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Business failures down by 15% y-o-y in January


2011-02-22



Corporate bankruptcy statistics continued to improve in January, though they have yet to recover to pre-crisis levels, according to latest figures from Coface, the global provider of credit solutions.

A total of 46 companies were declared bankrupt by the courts in January, down by 15% compared with the same period a year ago (54), but still 50% higher than at the beginning of 2008 (30). Indeed, the figure is higher than in January 2009 (31), as business failures only started to rise sharply from February of that year.

Coface also notes that payment situation and behaviour in the corporate sector maintained the improving trend observed in the course of 2010.



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