Surge in bankruptcies in sector hotels and restaurants

In the first six months of this year, 3 thousand businesses and institutions (excluding one-man businesses) were declared bankrupt, a decline by 7 percent relative to the same period last year. The number of company bankruptcies was reduced in nearly all sectors.

The sector hotels and restaurants constitutes an exception. The number of bankruptcies is no less than 42 percent higher than in the first six months of 2010. Small restaurants and pubs where no more than 10 people are employed mainly accounted for the increase.

The number of bankruptcies dropped most in the transport sector in the first six months of 2011; a reduction by nearly a quarter from one year previously. In the sectors manufacturing industry and construction, the number of bankruptcies was reduced by approximately 15 percent.

Company bankruptcies (excluding one-man businesses) by sector, first six months of 2010 and 2011

Vinodh Lalta