The number of insolvencies may be rising

The number of insolvencies may be rising

The highest increase in insolvencies can be observed in the agricultural, construction and transport sectors.

This is according to a report by Coface on insolvencies in the first quarter of this year. At that time the number of insolvent companies amounted to 495. This is 4 percent less than a year ago at the same time. This number consists of court proceedings and out-of-court notices. There were 198 court decisions on bankruptcy and restructuring in total. In addition, 297 notices on setting the day of arrangement appeared in the National Debtors Register. In the first quarter of 2021, 161 companies declared bankruptcy through the courts. Another 354 applied for simplified restructuring proceedings under the law of 19 June 2020.

Coface experts stress, however, that the latest figures are difficult to interpret because there is a transition period from 1 December 2021. At that time, a slightly modified covid simplified restructuring will permanently enter our legal system. Despite this, it can be deduced that after the number of court-ordered restructurings and bankruptcies decreased in 2020, they have now started to increase. This trend should continue.

For the time being, the number of insolvent companies is growing fastest in agriculture, construction and transport.


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