Bankruptcies on the rise in January

In January, 69 Polish companies were declared bankrupt, which is a 44 percent rise year-on-year, according to a report issued by Euler Hermes. The highest number of bankruptcies was recorded in the manufacturing sector – 18, up from eight last year. According to Euler Hermes this was caused by lack of investments and delay in tender procedures. This could impact the sector throughout the year as many construction companies, especially regional ones that work on road tenders will be having difficulties staying afloat.