Financial Services, Legislation, Lithuania, Markets and Companies

Creditinfo, service provider for credit information and risk management solutions, analysed the data provided by the state enterprise Centre of Registers and determined that most of these companies were classified as high risk since last autumn or earlier due to poor financial indicators, bad credit history, legal proceedings or business ties etc.

"Statistics shows that on average ten-year old companies go bankrupt in Lithuania. The age of companies that go out of business is gradually increasing. On average 75-80 percent of bankruptcies were obvious six months in advance or even sooner," said Chief Credit Risk Analyst Rasa Maskeliuniene.

26 of the 132 companies that went bankrupt in April were engaged in retail trade, 24 in services, 14 in wholesale trade, 12 in manufacturing, 10 each in construction, transport or other sectors.