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Fewer bankruptcies in 2010 but payment bottlenecks still a problem


A total of 629 companies in Poland declared bankruptcy in 2010, down by 9% compared with the year before, according to data from Dun & Bradstreet (D&B), the leading global supplier of business information. In December the figure fell to as low as 28.

The data are consistent with figures from other sources likewise pointing to a reversal of the upward trend in business failures last year. The company attributes the improvement to a mixture of better economic conditions and greater caution on the part of companies in choosing business partners. However, D&B data also reveal that the number of new liquidation proceedings actually rose 6.5% in 2010 and reached 1,175. And in most sectors monitored by the company the ratio of outstanding receivables deteriorated, indicating that payment bottlenecks remain a serious problem.

The sharpest improvements in bankruptcy statistics occurred in transport (down by 23%), white goods and consumer electronics (down by 22%), and food (down by 20%). By contrast, in the furniture sector the number of bankrupt firms surged by 50%, in clothing it rose by 22% and in construction by 20%.

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