There has been an absolute record of bankruptcies of Polish companies. It has never been this bad in history
4,701 Polish companies declared bankruptcy last year. This is PLN 2,000 more than in 2022 – according to the latest Coface insolvency report, which “Wprost” publishes first.
It’s never been this bad before. Since 2016, the number of bankruptcies of Polish enterprises has been constantly increasing. The latest data shows that 2023 ended with a record number of 4,701 insolvent companies. Virtually all sectors of the Polish economy are in trouble. The construction and transport sectors suffered the most, with the fastest number of insolvent companies. Most of them were in trade and production.
What are the reasons for such a bad situation? Should we still blame the Covid-19 pandemic? Could it be the result of the war in Ukraine, or inflation, or complicated law or the actions of the previous government?
Which companies fail most often?
The number of insolvencies of Polish companies is growing at a drastic pace. In the years 2013-2017, it remained at a similar level, ranging from approximately 700 to approximately 900 bankruptcies per year. In 2018, there were already 975 of them, a year later 1,019, and in 2020, 1,242. The last three years have been a crazy pace. In 2021, 2,125 Polish companies were insolvent. In 2022, 2,752, and a year ago over 4.7 thousand!
Statistics show an increase in insolvencies in all industries except agriculture.
