Bankruptcies in Bulgaria up by 141% in September 2009

According to statistical data of the credit solution provider, Coface Bulgaria, a total of 239 bankruptcy filing procedures have been initiated in Bulgaria since the beginning of 2009. File photo

The number of bankruptcies in Bulgaria has increased by 141% compared to September 2008 over the negative effects of the global economic crisis.

According to statistical data of the credit solution provider, Coface Bulgaria, a total of 239 bankruptcy filing procedures have been initiated in Bulgaria since the beginning of 2009, compared to 99 procedures for the same period in 2008.

The most bankruptcies have been registered in agriculture and city economy. 11,3% of all bankruptcies in Bulgaria have been filed by representative of these businesses, and the increase is 170% compared to 2009.

A total of 22 construction companies have filed bankruptcies since the beginning of 2009, and the rise is 144% on year basis.

The crisis have forced many companies from the administrative and consulting services sector, which has been thought to be a stable one, to file bankruptcies. 6% percents of the total insolvency procedures are from this sector.

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