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Business failures down by 22% y-o-y in Q1


2011-04-03



A total of 145 companies were declared bankrupt by the courts in the first quarter of the year, down by 22% compared with the same period a year ago, latest figures from Dun & Bradstreet (D&B), the global supplier of business information, showed. It was the first year-on-year decline in Q1 bankruptcy statistics in three years, the company said. According to Dun & Bradstreet, on current trends the full-year figure could be in the region of 600-620, which would represent a drop of 9-10% on 2010.

Business failures were down in 11 of the 16 voivodships in Q1, with the sharpest declines reported in the eastern voivodships of Lubelskie, Podkarpackie and Podlaskie.

The construction industry was a rare example of a sector where the number of bankruptcies increased in Q1, by 16% y-o-y to 32. By contrast, in the transport sector the figure was down by 43% to 8, in clothing it almost halved to 6, in furniture failures were down by 33% to 4, and in the food industry by 15% to 11.

Bankruptcy numbers were inversely proportionate to company size and age, with substantial increases in failures among micro firms and those on the market for less than five years, compared with Q1 2010.



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