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Coface: business failures down by 6% y-o-y in Q1


2011-04-05



Corporate bankruptcy statistics improved in the first quarter of the year, but not nearly as much as suggested by other sources, and they remain well above pre-crisis levels, according to latest figures from Coface, the global provider of credit solutions.

A total of 158 companies were declared bankrupt by the courts in Q1, down by 6% compared with the same period a year ago, but over 56% more than before the trough of the crisis. This compares to a 22% y-o-y decline reported by Dun & Bradstreet.

The situation remains particularly difficult in the construction sector, where the number of bankruptcies keeps rising (in Q1 there were 29 bankruptcies among construction firms, up from 23 in Q1 2010). By contrast, in manufacturing failures were down by almost 19% y-o-y to 48, whereas in trade the improvement was only marginal (39 to last year’s 40).

There are similarly large differences between voivodships. In Mazowieckie business failures declined by 25% y-o-y, while in Dolnoslaskie the figure increased by 42% y-o-y.



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