CRIF Analysis: 23 Firms Filed for Bankruptcy in April, Lowest Number This Year

Bratislava, 16 May (TASR) - A total of 23 firms filed for bankruptcy in April, a decrease of 8 percent both year-on-year (y-o-y) and in a monthly comparison, credit-reporting company Slovak Credit Bureau (CRIF) informed the media earlier this week, adding that this was the lowest number seen so far this year. "Although we see can a slightly lower number of bankruptcies when compared to previous months, we cannot conclude from this that the economic situation is stabilising or is getting better after three rounds of consolidation. From long-term statistics, we can observe that the number of bankruptcies declared in late spring and in the summer months is usually lower," stated CRIF chief analyst Jana Markova. A total of 20 limited-liability companies went bankrupt in April, one joint-stock company and two tradesmen. Six bankruptcies were declared for companies engaged in the wholesale and retail trade, four in industrial manufacturing, four in professional, scientific and technical activities, and three in the construction sector. Top place in terms of turnover in April belonged to online footwear and clothing retailer FC ecom, the operator of the Factcool e-shop. This limited liability company failed to meet its restructuring plan and filed for bankruptcy itself. In 2024, it reported a loss of more than €8.8 million on revenues amounting to €57.48 million. It had no debts to the state. Bankruptcy also hit footwear manufacturer from Trencin region, Vulkan Partizanske, which had the highest number of employees among the companies that went bankrupt in April, ranging between 100 and 149. In 2022, it recorded revenues of nearly €14 million. Last year, it posted revenues of less than €5.75 million and made a loss of more than €1 million. It owes over €185,000 to state institutions. Restructuring was permitted for one company based in Nitra region in April - furniture maker Decodom Topolcany, which owes over €868,000 to state institutions. ko/df/am