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

Transport bothers Bratislava Region

The smallest region in Slovakia has several specifics affecting various fields that will have to be addressed by respective regional authorities.

Candidates for the post of Bratislava Region's governor attending the discussion organised by the Sme daily (l-r): Juraj Droba, Milan Ftáčnik, Rudolf Kusý and Pavol Frešo.

The day Prague fell

It is pointless to talk about the wins and losses of Czech political parties - the one who lost is the Czech Republic.

Andrej Babiš celebrates his election victory.

European Commission does not consider the traditional family controversial

Hoaxes that have appeared on the internet in Slovak over the past two weeks

Famil,y illustrative stock photo

Robert Fico is not Saddam Hussein

It would take too long to list all the crazy distortions the international media presented about Central Europe and the Czech election campaign this week.

Babiš