A total of 457 of Polish businesses have gone bankrupt since the beginning of the year, with the construction sector struggling most of all. But according to the insurer Euler Hermes, the prospects for Poland’s building sector remain cloudy.
“There’s no positive incentives expected to show in the economy in the near-term that could stimulate it and in effect improve the condition of the Polish companies, and reduce the number of bankruptcies,” says Tomasz Starus from Euler Hermes.
Of the 457 companies to have failed this year, 157 were involved in the construction sector. In June, 75 percent more builders collapsed than did in June 2011. Analysts at Euler Hermes predict the negative trend will continue in 2012.
