Crisis: Spain; +30% business bankruptcies in first trimester

Insolvent families decreasing

08 May, 14:09

    (ANSAmed) - MADRID, MAY 8 - The economic crisis and difficult access to bank credit is hitting businesses hard in Spain where, in the first trimester of 2013, 2.661 companies suspended payments or went bankrupt, a 30,1% increase from the same period in 2012 and up 13,3% from the previous trimester, according to data released Wednesday by the national statistics agency.

    Only 193 families declared they were insolvent, down 30,6% from the same period in 2012, according to the statistics bureau.

    Overall 2.854 indebted families and companies went bankrupt, up 22,8% from the first trimester in 2012 and up 10,4% from the previous trimester. Some 25% of companies which went bankrupt from January till March operated in the construction sector while 17% worked in trade and 16,3% in industry and energy. One in four companies that went bankrupt had been active for 20 years or more while 12,4% had been open for less than four years.(ANSAmed).

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