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Wednesday, 16.07.2025, 09:46
Number of bankruptcies falls in Estonia in 2011
Juhan Tere, BC, Tallinn, 20.03.2012.
Print version
Print versionAfter the number of bankruptcies grew in Estonia considerably for several years and then halted in 2010, in 2011 the number of bankruptcies fell, Äripäev Online cites Krediidiinfo panel study.
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623 companies were declared insolvent last year, which is 40% less than in 2010. In 2010, the fall had been by 2.5%, reports LETA.
Krediidiinfo analysts forecast a fall of bankruptcies for this year too but not as quickly. Thus it will take a couple of more years to reach the pre-economic recession level of around 400 bankruptcies a year.
Accommodation and catering sphere and construction sphere had two times higher bankruptcy levels than average while the level was lowest in the agriculture sector.
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