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Euler Hermes: business failures up by 28% in 2012


A total of 941 companies went bankrupt in Poland in the course of 2012, which represents an increase of 28% compared with 2011, according to latest data from Euler Hermes, the global provider of credit insurance and risk management solutions. The figure is the highest since 2004.

For 2013 Euler Hermes is forecasting a further but smaller increase, of 10%.

The biggest contributor to the sharp increase in business failures in 2012 was the construction industry, which saw a 87% jump in bankruptcies last year, to 273, or 29% of the total. By way of comparison, in 2007 just 37 construction firms went under in Poland.

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