Bulgaria Among the Leaders in CEE for a Decline in Company Bankruptcies

A survey by Coface Credit Insurance Company shows that Bulgaria is one of the only five countries in Central and Eastern Europe where company bankruptcies have declined in 2017. 311 companies in the country have declared insolvency, which is 0.08% of all companies. 18.4% is the decline compared to 2016, Actualno reported.

The sectors with no reported bankruptcies for the year are the IT sector, furniture manufacturing, non-government human health activities, and the Security sector. Those with bankruptcies include wholesale and retail trade, real estate, land transport, and construction. In the first six months of 2018, 164 companies announced bankrupt, 4% decline compared to the same period last year, and the new industries were 213.

The five largest companies in Bulgaria declared bankrupt in 2017 are the engineering company “Enemona” AD with obligations of EUR 75 million; "KMB Bulgaria" - over EUR 50 million in debt; "G 56 Developments" - 29 million euros. The reason for the bankruptcy of “Carne-M” and “Techno Residential Park” is a result of the “CCB” saga.

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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