Downward trend in bankruptcies

10/08/2006 17:15

Almost 350  businesses and institutions (excluding one-man businesses) went bankrupt in June 2006. This is nearly 20 percent fewer than in June 2005. In May more than 380 businesses and institutions were declared bankrupt, nearly 3 percent lower than twelve months previously.

The number of businesses declared bankrupt in a particular month also depends on the number of days courts are in session, so the number may vary strongly from one month to the next. Therefore, the quarterly average is a more reliable indicator. In June, the average stood at 364, considerably lower than in May.

The number of bankruptcies shows a downward trend. In the second quarter of 2006, it decreased compared to the previous quarter for the fifth quarter in succession. Moreover, the number of bankruptcies in this year’s second quarter was the lowest in three and a half years.

Bankruptcies of businesses and institutions (excluding one-man businesses)