Spectator on facebook

Spectator on facebook

Construction bankruptcies jump

THE FINANCIAL problems plaguing construction companies have translated into more than just a slump in their profits – an increasing number of firms have headed into bankruptcy and the economic crisis is to blame, Development News Slovakia magazine wrote in early March. The magazine’s analysis of the number of bankruptcies and restructurings involving firms in the construction industry between 2008 and 2010 found that the economic crisis was the primary reason behind the financial problems experienced by these firms. Construction companies had problems in settling their accounts, due sometimes to poor managerial decisions but as well because some investors shifted their financial problems down to construction companies, causing secondary insolvency. The number of bankruptcies and restructurings rose each year between 2008 and 2010. In 2010 alone there were 38 bankruptcies declared by construction firms, up nearly 36 percent from the previous year and an additional 15 restructurings, up 150 percent from 2009.

THE FINANCIAL problems plaguing construction companies have translated into more than just a slump in their profits – an increasing number of firms have headed into bankruptcy and the economic crisis is to blame, Development News Slovakia magazine wrote in early March. The magazine’s analysis of the number of bankruptcies and restructurings involving firms in the construction industry between 2008 and 2010 found that the economic crisis was the primary reason behind the financial problems experienced by these firms. Construction companies had problems in settling their accounts, due sometimes to poor managerial decisions but as well because some investors shifted their financial problems down to construction companies, causing secondary insolvency. The number of bankruptcies and restructurings rose each year between 2008 and 2010. In 2010 alone there were 38 bankruptcies declared by construction firms, up nearly 36 percent from the previous year and an additional 15 restructurings, up 150 percent from 2009.


Top stories

How did Communism happen in Czechoslovakia?

For the 40 years, Czechs and Slovaks would celebrate February 25 as Victorious February, even though the enthusiasm of most of those who supported Communists in 1948 would very quickly evaporate.

Prime Minister Klement Gottwald (right) swears an oath into the hands of President Edvard Benes on February 27, 1948 at the Prague Castle.

Cemetery with a remarkable creative concept Photo

The shapes of tombstones were prescribed until 1997

Vrakuňa Cemetery in Bratislava

Being young is harder than it used to be

The failure of older generations to sympathise with youth means politics are primarily a contest of who can hand out more gifts to old people.

Young Slovaks have problems finding proper jobs.

Historian: After 1948, Czechoslovakia was paralysed with fear

On February 25, Czechs and Slovaks mark 70 years since the rise of Communism in their common state. Historian Jan Pešek talks about the coup and its aftermath.

Demonstration in Prague, Wenceslas' Square, on February 28, 1948.