16 percent more companies have gone bankrupt in Italy in 2013. Also in other crisis countries the number of insolvent companies rose in double digits. However, the leader is a surprise.
Photo: APAn example of many: The fashion manufacturers Strenesse Announced in April, an application for insolvency in self-administration
Despite positive economic signals, the number of bankruptcies has increased in many countries of Western Europe in 2013. In Italy the crisis bankruptcies climbed by about 16 percent and Spain nearly 15 percent, as the credit agency credit reform announced on Monday. In Belgium (plus eleven), the Netherlands (plus ten) and Norway (up 20 percent), there were strong increases.
In Ireland, which has now left the euro bailout fund, the number decreased, however, by almost a fifth to its lowest level since 2009. Also in Germany (minus nine) and the UK (minus ten percent), there was noticeably less corporate insolvencies.
Particularly affected retail and hospitality
Economic trends are reflected mostly down with a longer delay in the data for bankruptcies. The economy in the euro zone went through because of the debt crisis in 2012 and 2013 two years of recession with a shrinking economy. Only the current year’s gross domestic product is expected to grow in the currency of the EU Commission’s view again – just over one percent.