The number of company bankruptcies in EU countries in the Q2 of 2023 has reached the highest level since 2015, when they started collecting data, Yeni Şafak reported, citing Eurostat.
The largest number of bankruptcies was filed by companies in accommodation and catering services – 23.9%, transportation and storage – 15.2%, education, health care and social security – 10.1%.
The countries with the highest increase in the number of bankruptcy filings compared to the previous quarter were Hungary (40.8%), Latvia (24.8%), Estonia (24.6%).
Overall, the number of bankrupt companies in the EU countries has been growing over the last six quarters.
At the same time, the number of new companies in the second quarter of the year decreased by 0.6% compared to the Q1.
The increase in bankruptcies across the EU is due the energy crisis in Europe and the high cost of living caused by rising inflation and, above all, higher food prices.