CRIF: 33 Firms Filed for Bankruptcy in September, Owing Almost €31 mn to State

Bratislava, 12 October (TASR) - A total of 33 firms filed for bankruptcy in September, putting it in second place in terms of the number of bankruptcies declared this year, credit-reporting company Slovak Credit Bureau (CRIF) informed the media earlier this week. The number of bankruptcies increased by 21 percent year-on-year (y-o-y), while it rose by more than 13 percent quarter-on-quarter (q-o-q). At the same time, courts allowed four companies to undergo restructuring in September. The sum that the firms going bankrupt owed to the state was also a record one at nearly €31 million. The biggest debtor was Hydina Slovensko based in Lieskovec (Banska Bystrica region), whose debt made up two thirds of the total sum owed by all firms going bankrupt in September. The former top-three player on the Slovak poultry market, controlled by the Konkolov family, owes almost €21 million in taxes and an additional €313,000 to social-security provider Socialna Poistovna. According to CRIF's analysis, the most interesting element is its rapid fall. While it earned €18 million in sales in 2022, it reported only €72,000 two years later. The second-biggest debtor was Bratislava-based company Zedas, engaged in administrative and office activities. Its debt to the state had grown to €4.6 million. Bratislava-based company Mobiletouch Slovakia, engaged in mobile-phone, tablet and electronics servicing, had the highest turnover and the highest number of employees among the bankrupt companies. It was profitable in previous years and made a record profit of €338,000 thanks to €9 million in sales. It had 25-49 employees in 2024. However, its Austrian owners unexpectedly decided to send it into bankruptcy. "This is another example of a foreign investor for whom the consolidation of public finances via constant increases in taxes and levies have worsened the domestic business environment to such an extent that Slovakia is becoming less and less attractive to them," stated CRIF chief analyst Jana Markova. A total of 31 limited-liability companies, one joint-stock company and one self-employed person filed for bankruptcy in September. ko/df