The largest increase in bankruptcies was recorded in the catering sector where 113 companies went bust last year, up by 55 percent compared to 2011. The number of bankruptcies in the retail sector soared by 42 percent despite an increase in domestic consumption.
“In the services sector, 214 bankruptcies were registered last year, almost unchanged from a year earlier. Positive trends prevailed in transport, construction and real estate activities where the numbers of bankruptcies decreased by between 9 and 11 percent compared to 2011. However, it should be noted that the number of corporate property seizures increased considerably in construction and real estate segments last year, which may affect the bankruptcy statistics this year,” Alina Buemann, the head of credit risk at Creditinfo, said in a press release.
Most of the companies that went bankrupt in 2012 had been active on the market for nine years on average, while the companies that had been active for up to one year comprised meager 0.5 percent of the total bankruptcies figure. In 2011, the companies that went bust had been active on the market for 10 years on average before going bankrupt.