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Record bankruptcies in 2013

THE NUMBER of bankruptcies hit a record high over the past year, with nearly 400 companies filing for bankruptcy.

THE NUMBER of bankruptcies hit a record high over the past year, with nearly 400 companies filing for bankruptcy.

As many as 394 companies went bankrupt in Slovakia in 2013, mainly in the trade, industry and construction sectors. The number is 32 more than in the previous year, the TASR newswire reported.

The bankruptcies concerning legal persons amounted to 317, while 77 self-employed announced bankruptcy.

Since 2010, the number of bankruptcies has been the highest in Bratislava Region, which is also home to most companies in Slovakia. In 2013 about 164,000 companies were based in the region, according to TASR.

Žilina Region came in second. On the other hand, the lowest number of bankruptcies was recorded in Trnava Region.

The number of restructurings rose in the past year as well. The Slovak Credit Bureau (SCB) recorded 108 restructurings authorised for legal persons, one for a civic association and four for the self-employed, according to TASR. Similar to 2012, the highest number of restructurings was recorded in the sectors of industry, trade and construction, TASR wrote.

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