The number of restructuring and bankruptcy proceedings in Poland is increasing
According to the Coface report, the number of restructuring and bankruptcy proceedings in the first quarter of 2018 amounted to 213 and increased by 13% compared to the same period in 2017. In the analysed period 128 bankruptcies were announced, 48 accelerated arrangement proceedings, 28 remedial proceedings, 8 arrangement proceedings and 1 proceedings for approval of the arrangement were opened.
Particularly noteworthy is the fact that the presented statistics are the opposite of the current macroeconomic situation, as the Polish economy increased by 4.6% last year. This year’s indicators are confirming that also in this year there is a solid economic situation in Poland. Coface forecasts show that GDP growth in Poland will reach 4.3% in 2018.
In the commentary to the report, it was pointed out that despite the high rate of economic growth in Poland, delays in payments for contracting parties underwent extending. In Poland, 9 out of 10 companies experience delays in collecting debts. Average payment arrears amount to more than 60 days from the required payment date for the purchased product or completed service. The above translates into financial liquidity problems of some enterprises, followed by the need to restructure and even bankruptcy proceedings.