July saw the fewest company bankruptcies this year

A total of 51companies filed for bankruptcy in the Czech Republic in July, which is 29 fewer than in June and also the lowest number since the start of the year, according to a report by the CRIF – Czech Credit Bureau. Some 425 entrepreneurs filed for bankruptcy, 161 fewer than in the same month last year and the lowest figure since February 2019.

According to CRIF analyst Věra Kameníčková, one reason behind the drop in bankruptcies could be the fact that many entrepreneurs suspended their trade licences due to the Covid-19 pandemic.

A total of 1,046 personal bankruptcies were declared in the Czech Republic in July, which was also the lowest figure this year. At the same time, 1,119 petitions for personal bankruptcy were filed, 340 fewer than in June.