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The Warsaw Voice » Business » October 14, 2009
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Crisis Kills the Weak
October 14, 2009 By L.¯.    
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Almost 500 businesses went bankrupt in Poland in the first three quarters of this year, according to Coface Poland. The figure was 57 percent higher than the same period of last year, but the rate at which bankruptcies rose has slowed down. In the first quarter, 126 businesses went bankrupt, 180 in the second and 188 in the third.

Most bankruptcies occurred in industrial processing (206), the retail sector (137) and construction (54). The fastest-rising number of bankruptcies was reported in transportation companies (264 percent up), companies servicing the real estate market (125 percent up) and producers of metal and metal articles (an increase of 113 percent). The number of bankrupt joint stock companies trebled, which shows the impact of the crisis on large companies is growing. Many of the bankrupt joint stock companies were those whose problems resulted from disadvantageous currency option contracts as well as declining orders, loss of profitability, restructuring, new ownership and poor management.
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