Record number of bankruptcies reported

A record 12,409 businesses and people declared bankruptcy last year, with marked increases reported in December.

This content was published on January 23, 2012 - 16:55 and agencies

According to debt recovery firm Creditreform, the commercial registry recorded 6,661 bankruptcies of businesses in 2011, an increase of 6.5 per cent on the previous year.

Although business bankruptcy declaration rates were relatively stable throughout the course of the year, a 19.4 increase in declarations – 406 – was recorded in December alone.

A similar set of figures was reported for personal bankruptcy rates, which reported a 0.5 per cent increase to 5,748 declarations for the year but saw a 3.4 per cent increase in December.

2011 was also notable for a 5.2 per cent increase to 39,671 in the number of new business created. But inversely, a record number of companies – 28,278 – were struck off the register all together, an increase of 11 per cent over 2010.

This article was automatically imported from our old content management system. If you see any display errors, please let us know:

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Share this story

Change your password

Do you really want to delete your profile?