Money Buzz! Europa

Tag: Business bankrupt

  • More than 70,000 businesses have closed due to the pandemic in Italy

    More than 70,000 businesses have closed due to the pandemic in Italy

    Almost 73,000 businesses in Italy were closed due to coronavirus pandemic, revealed a study by National Statistics Agency, DPA reports.

    This figure represents about 7% of the total of 1 million businesses included in the study conducted in late October and early November.

    About 55,000 businesses would resume operations in the future, while 17,500, of which 5,000 in the restaurant business, were permanently shut down.

    Another 700,000 continued to operate normally and 244,000 partially.

    The Istat study also found that 85% of closed businesses were small businesses with less than nine employees, usually sports centers, small hotels, shops and bookmakers.

  • Business bankruptcies in Greece decreased in 2019

    Business bankruptcies in Greece decreased in 2019

    The total number of business bankruptcies in Greece, in 2019, recorded a decrease of 23.2% in comparison with 2018 (63 bankruptcies in 2019, 82 in 2018).

    As a result, the average annual change for the period 2010-2019 decreased by 18.1%.

    For the period 2010 – 2019, a decrease is observed with average annual change for the sole proprietorships 20.0%, for the companies with individual ownership 15.4% and for the business partnerships 17.7%.

    Most of the companies declared bankrupt, representing 38.1%, belong to section ”wholesale and retail trade, repair of motor vehicles and motorcycles”.

    Other 23.8% belong to section ”manufacturing”, 15.9% to ”accommodation and food service activities” section and 6.3% to ”construction” section.