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Polish corporate bankruptcies rise: report
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08:17, April 07, 2009

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Polish corporate bankruptcies rose by 25 percent year-on-year in the first quarter of 2009 to 126, a sharp reversal in a positive downward trend observed from 2002, Coface Poland said in a report on Monday.

In 2008 the number of bankruptcies declined by 7 percent year-on-year, said the report, quoted by Polish news agency PAP.

"In 2009 bankruptcy statistics, firms are appearing whose bankruptcy was directly influenced by crisis-related factors," the report said, identifying a dramatic decline in the number of orders as a primary bankruptcy factor.

The number of bankruptcies rose in particular among firms in the transport, trade and steel sectors, according to the report.

Source: Xinhua

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