Coface: Bankruptcies grow by 16% y/y in 2017

The number of bankruptcies and restructurings in 2017 amounted to 885, which is 16 percent more than last year, according to a report by Coface.

Due to changes to the law, which made implementing restructuring processes to avoid bankruptcies easier, the number of companies that decided to go that route increased. In 2017, they accounted for 39 percent of all proceedings, compared to 27 percent last year.

The sector most affected by bankruptcies and restructurings is the production sector, where 250 companies either filed for bankruptcy or implemented restructuring process.

According to the same report, next year, the number of bankruptcies and restructurings will drop by 1 percent.

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