21:45 24 August 2019
Number of bankruptcies up by 7% y/y in July
In July, 74 companies went bankrupt in Poland, which means an increase of 7 percent y/y, said Euler Hermes. The most insolvencies were in the industrial (22) and service (21) sectors as well as the wholesale trade (12). A significant increase in material and labor costs puts pressure on already low margins. "Medium-sized companies, which lack the economies of scale of larger competitors and the flexibility of smaller, niche players, face most risk," the statement said.
(ISBnews)
