Number of bankruptcies in Poland falls by 1.8% y/y in Q2 of 2014

By bne IntelliNews July 10, 2014

The number of companies declared bankrupt decreased by 1.8% y/y to 224 cases in Q2 of (after falling by 19.6% y/y a quarter earlier), export insurer KUKE reported citing data from the Polish courts. In June alone, the number of firms than went bankrupt declined by 10.6% y/y to 76.

At the same time, KUKE upheld its forecast for the whole-year number of bankruptcies - it expects a drop of 11.2% y/y (or 787 cases).

In the last 12 months (through June), a total of 836 enterprises went bankrupt vs. 915 firms in the previous 12 months.

The biggest number of bankruptcies was reported in the construction industry, followed by hotel-and-restaurants industry and culture and entertainment services.

KUKE also raised its forecast for Poland's GDP growth by 0.1pp to 3.3% in 2014 (from 1.6% in 2013), while enterprises' net profit margin will improve to 4.5% (this forecast has been unchanged).

Related Articles

Poland’s PKN Orlen launches offer to delist Czechia’s Unipetrol

Poland’s state-controlled oil and gas company PKN Orlen has launched an offer to take over Czech refiner Unipetrol, the Polish company said on December 13. PKN Orlen said it will go through with ... more

Poland passes partial ban on Sunday retailing

The Polish parliament on November 24 passed a bill that bans retailing on the first and last Sunday of each month. The passing of the law – which still has to be reviewed by the Senate and ... more

European Parliament calls for use of “nuclear option” against Poland

The European Parliament adopted a resolution on November 15 calling on the EU Council to launch the so-called “nuclear option” against Poland to punish Warsaw for its alleged abuse of the ... more