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Number of bankruptcies in Czech Republic down in October

Thirty-seven bankruptcies of commercial companies were declared in the Czech Republic in October, 19 less than in September, the Czech Radio reported citing data released by the Czech Credit Bureau. 

The number of personal bankruptcies was 580, likewise a drop on the previous month. The reason for the decline is the ongoing state of emergency and the restricted working hours of state authorities, including the courts.

Despite the high number of bankruptcy petitions filed during September and October, in October the number of declared corporate bankruptcies was the third-lowest since 2008, when the current insolvency law came into force. Compared to September, it decreased by a third.