The spiral of insolvency is being overcooked

The spiral of insolvency is being overcooked

Companies are having an increasing problem receiving payment for goods and services sold on time. The situation may be getting worse.

A survey conducted by BIG InfoMonitor’s Debtor Register shows that 40 percent of entrepreneurs have waited more than 60 days past due for payments from contractors over the past six months. There are now 7 percent more companies that have problems receiving money on time than in the spring. According to Slawomir Grzelczak, president of BIG InfoMonitor’s Debtor Register, the situation will get even worse. This is fostered by the war and high inflation. Companies are hit especially hard by rising energy and fuel costs. Rising interest rates and inflation are reducing consumers’ purchasing power.  The solvency of contractors is also in question.

The biggest payment bottlenecks are faced by trade, where 51 percent of companies have a problem. On the other hand, the largest increase in the percentage of companies that complain about delays appeared in industry ( up 11 percent, to 40 percent). Things are not so good in transportation either.

After the first half of the year, the BIG InfoMonitor Debtor Register and the BIK credit information database listed 313,400 companies that are in arrears. Their number dropped by 1.5 thousand, but the value of debts is higher by more than PLN 273 million than in March.

Source: https://www.pb.pl/firmy-stoja-w-korku-platnosci-1158893

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