250 JAPANESE COMPANIES FILE FOR BANKRUPTCY DUE TO THE CORONAVIRUS PANDEMIC

250 Japanese companies did not survive the crisis in the terms of financial difficulties, caused by the COVID-19 pandemic.

Most of these companies are the enterprises of the hotel and restaurant industries, and the retail companies have suffered from the crisis as well. As a result, 41 hotels, 34 catering establishments, and 18 clothing and retail stores closed or started bankruptcy proceedings.

However, at the moment, the number of bankruptcies is decreasing. According to statistics, 106 companies went bankrupt in April, 93 in May and 28 in June.

The experts believe that the situation is improving for two reasons: there is a government business lending and the restrictions are being applied in the legal sector. The work of courts has also become more complicated - due to the large volume of bankruptcy applications, employees of the departments are unable to cope with the situation.