Decrease of 10% in corporate insolvencies in February

Euler Hermes, the world’s leading credit insurer, announced that number of corporate insolvencies in February in Poland was 54 (in comparison with 60 in February 2015). This means a 10% decrease y/y. There are a drop in the wholesale (9 compared to 12 the previous year), while the increase observed in services (20 versus 19) and construction (7 to 6). In the production it remained at the same level of 14 corporate insolvencies. "The number of bankruptcies fell in four voivodeships. Companies that have disappeared from the market had been employing approx. 1200 people, and the total annual turnover amounted to PLN 280 million, " the report found.