Number of bankruptcies up by 54 percent

A total of 969 firms were declared bankrupt in the first three quarters of this year, which is more than 54 percent against the same period last year, according to figures published by the Czech Credit Bureau. Between January and September a total of 3,516 firms and entrepreneurs filed for bankruptcy, up by almost 80 percent against the same period in 2008. In Q3 this year, a total of 343 firms were declared bankrupt, an increase of nearly 77 percent on the year.