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Seventy bankruptcies in November, mainly SMEs

3rd December 2013
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In November this year 70 Polish companies went bankrupt, according to a report by Euler Hermes Collections. Altogether these firms employed 1,800 people and had a total revenue of some zł600 million. 
Last year, 86 companies went belly up in November. 
Since the beginning of this year, 868 businesses declared bankruptcy compared to 860 in the corresponding period of 2012. 
Euler Hermes said that local or regional firms are more likely to go bankrupt, particularly SMEs. In November only one of the companies that went bankrupt had revenue higher than zł.100 million. The main reason for the companies poor financial standing was low domestic revenue. 

From Warsaw Business Journal

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