The total debt of construction companies in Poland at the end of June this year increased by PLN 246 million and exceeded PLN 4.7 billion, according to a report by BIG InfoMonitor, BIK and the Polish Association of Construction Employers.
The report found that 40,913 enterprises, or 5.9 percent of the companies registered with the National Court Register and CEIDG, have problems with timely payment of liabilities. There are over 5,500 more debtors than at the end of 2017.
According to the report, one of the signs of the difficult financial situation of the industry is a clear increase in the number of bankruptcies and restructuring proceedings of construction companies, as well as tightening of lending policy and policy of risk assessment by banks and insurance companies. In the first half of the year, the number of bankruptcies was the highest in four years.