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Number of Bankruptcies in Slovakia Rose by 69 percent Y-o-Y in 1Q10
Thursday 22 July 2010 Zoom in | Print page
Bratislava, July 22 (TASR) - Despite certain indications of an economic revival, the number of bankruptcies and unpaid debts among companies and entrepreneurs is on rise, TASR learnt on Thursday.
"In the first three months of this year we registered a total of 103 bankruptcies, which represents a rise of 69 percent compared to the same period of last year, when the number of bankruptcies reached 61," Slovak Credit Bureau (SCB) chief analyst Jana Markova said at a press conference.
Like last year, the highest number of bankruptcies were recorded in mining and quarrying, transport, warehousing and manufacturing. Conversely, the fewest bankruptcies and the lowest bankruptcy ratios were in art, entertainment and recreation, and real-estate.
The most significant deterioration over the past year was registered in Zilina region, while the lowest bankruptcy ratio, like last year, was recorded in Nitra region.
SCB expects that around 400 bankruptcies could be announced in the whole of 2010. "The figure may be even higher if an amendment to the law on bankruptcies and restructuring is approved," said the SCB analyst.
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