Number of bankruptcies dramatically down

11/01/2007 16:06

In November 2006, a total of 321 businesses and institutions (excluding one-man businesses) went bankrupt. This is 34 percent down on November 2005. In the first eleven months of 2006, the number of bankruptcies fell sharply.

As the number of businesses declared bankrupt in a particular month also depends on the number of days courts are in session, it may vary strongly from month to month. Therefore, the quarterly average is a more reliable indicator. In November, it stood at 318 and was 10 lower than in October. The downward trend in bankruptcies is continuing after a slight hesitation in October. The number of bankruptcies has now reached its lowest point in almost four and a half years.

More detailed figures are available on the first three quarters of 2006. These show that the largest reduction in bankruptcies (including one-man businesses) in the first nine months, relative to one year previously, was recorded in manufacturing industry. In agriculture and the sector hotels and restaurants, on the other hand, the number of bankruptcies increased.

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

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