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New record in number of bankruptcies and restructuring set

THE NUMBER of declared business bankruptcies in Slovakia rose by 13 compared to last year, to reach a new record of 407 in 2014, a new analysis published by CRIF-Slovak Credit Bureau suggests.

THE NUMBER of declared business bankruptcies in Slovakia rose by 13 compared to last year, to reach a new record of 407 in 2014, a new analysis published by CRIF-Slovak Credit Bureau suggests.

The data shows that among the bankrupt entities the majority were companies (336), while 71 bankruptcies were declared concerning the property of private individuals (the self-employed). Initially, restructuring was allowed in 30 cases, but this was not successful and bankruptcy followed, the TASR newswire reported.

The most high-risk branches were, as in previous years, in trade, industry and construction.

“By far the most bankruptcies in the long term have been declared in Bratislava Region, in which at the same time the majority of the entities carried out their business activities,” the analysis suggests, as quoted by TASR. “The lowest number of bankruptcies in 2014 was recorded in Trenčín Region.”

Meanwhile, the number of businesses that ended up in restructuring also rose in 2014. While in 2013 the number of allowed restructuring cases stood at 113, last year it reached 115.

Source: TASR

Compiled by Radka Minarechová from press reports

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