CRIF Analysis: 22 Firms Filed for Bankruptcy in May, Owing Over €3 mn to State

Bratislava, 7 June (TASR) - A total of 22 firms filed for bankruptcy in May, which is one fewer than in April, according to an analysis by credit-reporting company Slovak Credit Bureau (CRIF). The number of such bankruptcies rose by one third year-on-year (y-o-y) from April when 16 companies went bankrupt. The analysis further showed that 19 limited-liability companies, one cooperative, one association and one self-employed went bankrupt in May, owing more than €3 million in taxes and levies to the state in total. If the arrears of companies whose bankruptcy proceedings were suspended or terminated by the state in May due to insufficient assets were factored in, the total volume of liabilities towards the state would reach €23.8 million. "Based on many years of observations, we know that, to a large extent, the state is no longer able to recover its claims from such entities," stated CRIF chief analyst Jana Markova. The biggest debtor in May was Topolcany-based furniture maker Decodom. The company failed to gain investors' trust during its restructuring, and the court therefore terminated the restructuring proceedings at bankruptcy trustee's request and declared the company bankrupt. During the pandemic, the company posted revenues of over €50 million and employed hundreds of people. In 2024, it made a profit of almost €230,000 on revenues of just under €34 million. It currently owes more than €1.1 million in taxes and levies to the state. Restructuring was permitted for Pezinok-based liability-limited company Hyca, engaged in the production of lifting and handling equipment. In 2024, it posted revenues of over €15 million and a profit of almost €622,000. It currently owes more than €25,000 to social-security provider Socialna poistovna. Another company that was permitted restructuring is Zvolen-based company Haness, which deals with the rental and operation of its own or rented real estate. It owes more than €208,000 in taxes and levies. ko/df