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2,300 Spanish enterprises, individuals declare bankruptcy in Q2 2012

(Xinhua)

09:12, August 07, 2012

MADRID, Aug. 6 (Xinhua) -- Close to 2,300 Spanish enterprises and individuals declared bankruptcy in the second quarter of 2012, Spanish national statistical institute INE reported on Monday.

According to the INE, the number of debtors processed in the April-June period increased by 28.6 percent to 2,272, the highest since the eurozone debt crisis hit Spain.

Quarter on quarter, the figure was 2.2 percent higher than that of the first three months of this year.

INE said 30.8 percent of the enterprises declaring bankruptcy in the second quarter were in the construction and real estate sector.

About one third of the insolvent companies employs only one to five employees.

Madrid has been struggling to put its economy back into order amid a spiralling eurozone debt crisis that has already forced it to request a credit line of up to 100 billion euros (about 123 billion U.S. dollars) for it troubled banking sector.

But the country's benchmark IBEX-35 on Monday closed 4.4 percent higher on hopes after the European Central Bank chief, Mario Draghi, said his bank was working on a plan to help lower borrowing rates for indebted countries like Spain.

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