Coface report: this is probably the last such good result

Coface report: this is probably the last such good result

In the first quarter of 2020, 232 companies were declared bankrupt or restructured. This is 4% more than the corresponding period in 2019.

Out of all types of insolvencies, it was bankruptcy that was most often announced to entrepreneurs. As many as 135 times the courts issued a bankruptcy decision, which is more than half of all decisions.

The industry which has recorded the biggest increase in the scope of declared bankruptcies and restructuring in relation to the previous year is agriculture. The adjustment of regulations to the legal situation of farmers may have influenced this change. However, it is difficult to judge whether the current increases and decreases in particular industries will be sustained due to the situation of the economy in the country. The decrease in the provisions in textiles and trade on the scale of the coming year seems particularly questionable.

Moreover, it should be noted that due to the limited activity of the courts since mid-March and issuing rulings only in urgent cases, the true picture of the first quarter may be different from the one presented in the report. Experts expect the next months to bring an increase in the number of proceedings.

 

Source: http://www.coface.pl/Aktualnosci-i-media/Biuro-prasowe/Upadlosci-i-restrukturyzacje-firm-w-Polsce-w-I-kwartale-2020-roku

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