Bankruptcies in retail up 84% in 2011

2012-01-05



There were 46 bankruptcies in the retail trade sector in Poland in 2011, up from 25 in 2010 and 30 in 2009, according to Coface, a trade receivables management company. Meanwhile, 115 companies bankrupted in the wholesale branch, compared to 107 in 2010 and 138 in 2009.
According to Coface, the retail segment in Poland is still diversified and dispersed. However, the market is increasingly concentrating towards shopping centres as well as among distributors as the crisis changes consumer behaviour. The company expects clients to continue to choose discounts and hypermarkets with lower prices over neighbourhood stores and supermarkets.
Overall, 723 companies in all sectors went bankrupt in Poland in 2011, up 10.4% from 2010 and 76% more than in 2008.