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Announcement
15,000 companies go kaput
Textiles
15,000 companies go kaput
20 Jul '06
1 min read
Due to bankruptcy about 15,000 companies in Hungary are expected to go insolvent this year compared to 12,000 in 2005.
Hungary has one of the worst rates of firms facing liquidation in Europe at 1.5 percent due to scores of companies competing.
Textiles are worst off with 3.11 percent of firms with claims against them and up to six percent of them went belly up in the first half of 2006.
More Textiles News - Hungary...
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