The number of company bankruptcies published in the Court and Economic Monitor amounted to 105 in Q1 2023, the Central Economic Information Center (COIG) reported. There were also 1,052 cases of restructuring proceedings during the period.
The declining number of bankruptcies is influenced by increasing restructuring proceedings and the declaration of consumer bankruptcy by formerly self-employed persons. In 2023. 380 entrepreneurs who ceased operations in a 12-month period declared consumer bankruptcy, it was reported.
Most proceedings involved limited liability companies. (66.67%) and individual business operations (14.29%). In 2023, the largest number of bankruptcy proceedings were initiated in the Mazowieckie Voivodeship – 27.62%. In terms of economic divisions, the largest number of proceedings is for entities engaged in manufacturing (22.86%) and construction (20%).
As for restructuring, debtors most often applied for restructuring under the simplified procedure for approval of an arrangement – 91.92% of all proceedings. The largest number of proceedings are for individual businesses (73%) and limited liability companies. (13,21%). In 2023, the largest number of restructuring proceedings were initiated in the Mazowieckie Voivodeship – 18.54% and the Wielkopolskie Voivodeship – 10.84%, it also indicated.
The largest number of restructuring proceedings is for entities that were engaged in trade – 23.03%, industrial processing – 13.61%, construction – 12.08%.
Source: COIG and ISBnews
