No.of self-employed persons going bust in May highest since 2008

​As many as 383 self-employed individuals wound up their business in May, 71 more on the month but the highest number since January 2008, and 115 companies went bankrupt in that month, 16 fewer compared to April, said an analysis of the company CRIF - Czech Credit Bureau.

​Over the past 12 months the number of bankruptcy petitions against companies decreased by 298, while the number of bankruptcy petitions against the self-employed increased by 2,501. The former made up 55 percent of the total amount over the period, against 38 percent in the same year-ago period.

Bankruptcies of self-employed persons accounted for 70 percent of the total figure, up from around 60 percent a year ago.

The number of debt settlement cases increased from 68 to 78 in annual terms.

The Karlovarsky region in the west of Bohemia saw a 235 percent growth in the number of business bankruptcies annually, followed by the Plzensky region, also western Bohemia, with a rise of 200 percent, and the Jihocesky region in the south of Bohemia showing a rise of 148 percent.

The Moravskoslezsky region in the north of Moravia, on the other hand, reported a 6 percent increase. The Olomoucky region in central Moravia showed a rise of 21 percent, followed by the capital city of Prague, a rise of 27 percent.

Most bankruptcies, 39, were declared in services. The segment of trade and catering reported 38 bankruptcies. It ranks first in terms of bankruptcies declared in the past 12 months.

Business bankruptcies in services showed the biggest annual growth of 17 percent and bankruptcies in the manufacturing industry rose by 13 percent.

Construction and manufacturing industry ranked first and second in terms of bankruptcies per 10,000 companies, 71 and 62 cases, respectively, while services reported less than 27 bankruptcies per 10,000 companies.

Business bankruptcies




Source: CRIF - Czech Credit Bureau
Zpravodajství CTK, 4. 6. 2013, Section CTK: cce bns, Author: vr