Euler Hermes: insolvencies increased by 14% y/y in February

The number of insolvencies of Polish companies increased by 14 percent y/y to 87 in February 2019, financial group Euler Hermes reported. Insolvency includes inability to settle liabilities towards suppliers, resulting in bankruptcy or any form of restructuring proceedings.

The largest percentage increase in the number of insolvencies as well as the largest scale in terms of turnover was recorded in the retail sector. Food distributors experienced a reduction in sales profitability by half over the past five years, starting from an already low level. (ISBnews)