Bulgaria's corporate failures balloon in 2010

Bulgaria's corporate failures balloon in 2010

The number of Bulgarian businesses that have declared bankruptcy since the start of the crisis has soared by 80%, figures of the Registry Agency obtained by Dnevnik show.

In 2010, the court declared bankrupt 428 firms that were forced to terminate their operations over inability to cover their obligations, up from 239 insolvency cases registered in 2008.

At the same time, a total 523 companies started insolvency procedures in the past year, twice as many as the bankruptcy proceedings initiated in 2009.

Construction companies, tour operators and food producers were among the hardest hit by the financial crisis, according to the Registry Agency.

In January, local employers predicted that 2011 will also see a large number of bankruptcies, some of which to be healing for the business.(Source: Dnevnik)

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.