Number of bankruptcies in Q1-3 grew by 14% y/y – Coface

The number of bankruptcies and restructurings in the first three quarters of 2017 amounted to 635, which is 14 percent more than last year, according to a report by Coface. Due to changes to the law, which made implementing restructuring processes to avoid bankruptcies easier, the number of companies that decided to go that route increased. In Q3 alone, they accounted for 37 percent of all proceedings, compared to 23 percent last year. The sector most affected by bankruptcies and restructurings is industrial processing, where 158 companies either filed for bankruptcy or implemented restructuring process. According to the same report, next year, the number of bankruptcies and restructurings will drop by 0.7 percent.