The number of insolvencies of Polish companies increased by 75% y / y to 316 in the first two months of 2021, Euler Hermes reported based on official data from Monitor Sądowy i Gospodarczy (MiSG). The problem of insolvency mainly affected small and medium-sized enterprises from the service, agricultural, manufacturing and construction sectors.
“Will the third wave of the pandemic disrupt the recovery? So far, companies are still feeling the effects of the second lockdown, announced in the fourth quarter of last year. After the bad results in the last quarter of the year, which is always the best for trade, their managers did not wait and submitted applications to the courts for protection against creditors – or it was they who applied for bankruptcy of debtors, especially small but stable family businesses that have been present on the market for many years, and not startups that pay debutants in fees “- said Tomasz Starus, member of the management board of Euler Hermes responsible for risk assessment.
This applies in particular to the services sector, where the number of insolvencies was more than three times higher – 131 in January-February 2021 compared to 45 a year ago (a percentage increase in the number of insolvencies by 190%). Przednówek is also not easy for the construction industry (the scale of the discussed events increased by + 45% y / y, in January alone from 7 a year before to 17 in January this year, for the period I-II it is 30 insolvencies now compared to 22 a year ago). There was no y / y decline in the number of defaults in any of the sectors of the economy. Also in production (insolvencies + 42% y / y, it is worth mentioning the following categories: agriculture-food, steel, machinery sector, which are frequent in published insolvencies) and in trade (insolvencies + 31% y / y, mainly food, but also other consumer goods, in including interior furnishings).
Source: ISBnews
