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Pace of Insolvency Proceedings Fall in July to 6.5%

Three-hundred and nineteen companies went bankrupt last month, 6.5% less than in July 2019, and a much smaller drop than the 16% in June or 85% in April.

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There were 319 bankruptcies registered with the Commercial Registry in July, according to data from the Association of Property Registrars. This figure represents a year-on-year drop of 6.5%, after successive declines since the pandemic took hold in mid-March.

The figure, however, was significantly lower than in previous months, when the total fell by 16.5% y-o-y in June, by 76.1% in May and by 84.8% in April, according to Registrars.

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