Over 1,000 companies have gone bust so far this year as the recession continues to hit Irish firms. 1,012 companies collapsed between January and August 2010, an increase of 14% on the same period last year. However, the number of insolvencies dropped dramatically in August, falling from 125 in July to 95 in August. This was the lowest monthly total for insolvencies so far this year and the lowest since January 2009.