Just under 50 restaurants, cafés and other food-led businesses closed in November.
The Restaurants Association of Ireland has blamed increased costs and reduced consumer demand, calling the figure "deeply distressing".
"The food services industry continues to grapple with what is being described as a perfect storm of increased costs and reduced consumer demand," it said.
"Operational costs for small, local restaurants, cafés and food-serving pubs - which include food costs, energy costs, insurance costs and VAT, the rate of which rose from 9% to 13.5% in September - have skyrocketed, while a recent Bord Bia report found consumers are eating out less often".
'Monthly Closures List'
The announcement of the 48 closures was made as part of the RAI's Monthly Closures List.
The group has said it will continue to publish the list to highlight "alarming rates" at which local restaurants, cafés and gastropubs are having to close their doors.
The RAI previously announced that 140 food-led hospitality businesses had ceased trading between July and the end of October of this year.
Restaurants Association CEO Adrian Cummins said he believes if multinationals were in the same position, a task force would be set up 'in the morning'.
"What we are being told by restaurant and café owners is that this year’s busy Christmas season will not be enough to keep the doors of many food-led businesses open through 2024," he said.
"As a result of various measures included in Budget 2024 ranging from the 12.4% increase in the minimum wage to the increase in paid sick leave entitlement days and the introduction of a pension auto-enrolment system, costs are only going to rise next year.
"Thousands of jobs and hundreds of businesses are at stake.
"If large multinationals in Ireland were grappling with the current crisis affecting restaurants, cafés and gastropubs across the country, a task force would be established in the morning."
'A fraction of the cost'
Mr Cummins said said he believes these closures are just the beginning.
He said an Increased Cost of Business Scheme, which was announced as part of Budget 2024, will be "insufficient for many restaurants and cafés" struggling in the coming months.
"Our members say that the amount they expect to be eligible for as part of the scheme will only cover a fraction of the cost increases they will see next year," he said.
"The Government needs to seriously consider introducing a hospitality-specific support package and also returning the 9% VAT rate for food-led businesses.
"If the Government fails to take swift and decisive action - including the return of the 9% VAT rate for food-led businesses - then the alarming level of closures we are already witnessing will only be the tip of the iceberg," he added.
The RAI's Monthly Closures List is made up of hospitality sector liquidations, and a separate list of closures of sole traders which are not included in the liquidation data.