Bankruptcy from last month

Euler Hermes, a company of Allianz Group, based on data from the Court and Economic Monitor prepared a report on the bankruptcy of Polish companies in August 2014.

Last month, 62 companies were liquidated, employing approx. 1 600 people. Their last known turnover after adding amounted to approx. 600 million PLN.


Not enough construction orders


In August this year, announced 12 bankruptcy construction companies, an increase of 80 percent less than in the same period last year, when he hit 8 bankrupt companies. The report noted the gradual, three years observable trend of slow decline in sales of most construction companies and manufacturing. Not only do these large or medium-sized, with a turnover of 60 million dollars and more, but also companies with turnover of several million and only local business area compared to 2011 reduced its turnover by an order of magnitude of 15 to 25%. Not all of these tasks yourself, because at the same time lengthened in recent years, the orbital period of the receivables realized some sales. Restructuring, reduction of fixed costs in this situation is sometimes insufficient, especially when many of these companies incur fixed costs due to realized in recent years, investment in equipment. Undoubtedly, relief system, especially for companies such tax was insufficient - anti-crisis package limited only to a temporary reduction of labor costs - explains Maciej Harczuk, CEO of Euler Hermes Collections.


The worst situation in services


About less than 50 percent of higher than a year before the bankruptcy of service (from 11 in 2013 to 21 this year.), among them there were, among others, companies, hospitality and catering, as well as associated with the real estate market. Unlike in the previous year, also joined them and printing company dealing with waste. Probably a lot of companies engaged in the purchase and processing of waste as the cause of his troubles could indicate revised rules on waste management, which rather restricted competition in the market rather than improve it - says Grzegorz Hylewicz, director of Euler Hermes recovery. - Savings businesses also reflected sadly on printing - both printers and their suppliers (including manufacturers of paper). Unfortunately, the signals from many companies in the country indicate that four of bankruptcy, which we have witnessed in this sector in August, will not be the last.


Reasons for concern in Malopolska


Most bankruptcy compared to the same period last year in August announced in the Malopolska province (9 from 3 in 2013) and Kujawsko-Pomorskie (7, while in August 2013, there were 2). Authors of the report note that companies from Malopolska, which declared bankruptcy (including manufacturers of metal products and wholesale and brokerage firm), were enterprises counting on the national scale, and their last known turnover amounted to a total of over 180 million PLN, which is less than 1/3 of the total turnover of the company, which declared bankruptcy this month on a national scale.


Reasons for concern have while those in provinces, which declared bankruptcy fewer companies than in August 2013: West Pomeranian (0, and in 2013 - 3), Lower Silesia (8 of 11), Silesian (5 of 9) and Mazowieckie (7 of 10).


Since the end of August, bankruptcy has affected 559 Polish companies, while in the same period of 2014, published 647 decisions for bankruptcy.

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