Company, personal bankruptcies up by 46 percent in 2012

The number of both corporate and personal bankruptcies declared in 2012 rose by 46 percent compared to the previous year, according to figures by the company CCB. Nearly 3,700 firms went bankrupt last year; most of them were self-employed people registered as entrepreneurs. Some 60 percent of bankrupt firms were active in the services, trade and restaurant sectors. Meanwhile, nearly 17,000 personal bankruptcies were declared in 2012 which was the highest number since their introduction into Czech law in 2008.