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Coface: business failures flat in January-October


2010-11-22



The number of companies declared bankrupt by the courts in the 10 months to the end of October was 561, roughly the same as in the corresponding period of 2009, according to latest data from Coface, the global provider of credit solutions. The figures are further evidence that the upward trend in bankruptcy statistics has bottomed out, after one and a half years of rising numbers of business failures. At the same time, the share of bankruptcies “with the possibility of debt agreement with creditors” rose to 18.5% of the total, from 15% a year ago.

The overall figure masks differences between individual sectors. For example, the situation in the construction industry remains difficult, with the number of bankruptcies up by 33% y-o-y in January-October, to 84. According to Coface, small building contractors are particularly vulnerable in the current market environment.



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