In August 62 companies went bankrupt

In August 2015, 62 firms went bunkrupt, which is the same number as last year, according to a report by Euler Hermes. Since January, 527 companies declared bankruptcy, which is lower by 5 percent in year-on-year terms. The total turnover of the insolvent firms in August amounted to PLN 950 million and around 2,000 workers. Paradoxically, the problems of medium size companies come partly from an increase in sales. "It is not a paradox - increase in sales also means a higher value of one's asset entrusted with consumers, so a greater exposure to risk," the statement read. Most of the firms declaring bankruptcy were from the production sector, more specifically those producing building materials. A lower bankruptcy rate was noted in the machinery and food industry.