Fewer companies are applying for bankruptcy, according to new figures from the credit information company UC. After increasing for several months, the number of company bankruptcies decreased by 4 percent in October compared to the same period last year.
"A decrease in bankruptcies indicates a temporary relief," says Vlasta Valan at UC in a press release.
Within the construction industry, the number of bankruptcies decreased by 16 percent, and for hotels and restaurants, they decreased by 14 percent.
In contrast, the retail trade saw an increase, with 8 percent more bankruptcies compared to last year. Furthermore, the number of newly started companies is decreasing.
UC emphasizes that the situation remains pressured for many companies.
"Despite this downward trend in October, uncertainty on the market persists. The latest figures indicate that the outlook for companies is divided and that the economic situation is still difficult to assess," says Vlasta Valan.
