Number of bankruptcies down in July – Euler Hermes

In July, Polish courts declared the bankruptcy of 79 companies, according to a report issued by Euler Hermes. An additional 15 liquidations were declared of companies that had been in restructuring bankruptcy proceedings earlier. “Data on industrial production and consumer demand in Poland from the past two months were below expectations,” said Tomasz Starus, board member at Euler Hermes. “Nevertheless, the number of bankruptcies remains lower than in 2013.” The company stated that despite growing investments, companies producing investment goods were more likely to go bankrupt in July, as were firms offering business services. At the same time, the number of bankruptcies in the food sector has stopped growing despite imposed export bans.