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SMALL AND MEDIUM BUSINESSES IN GERMANY ON THE VERGE OF BANKRUPTCY DUE TO FUEL PRICES

... the work of companies in Germany. However, the problem does not only concern gas stations and the transport sector. According to local experts, existing taxes on electricity and the protracted reform of the public transport fare system could lead to bankruptcy of significant number of entrepreneurs. According to the NEOPresse media, gasoline prices have already exceeded € 2 per liter at gas stations in Germany. The cost of gas also doubled. This raises concerns among businessmen who fear corporate ...

THE NUMBER OF BANKRUPT COMPANIES IN EUROPE IS GROWING

... growth is 16.6% and 16.2%, respectively. In some European countries, there has been a decrease in the number of insolvency petitions filed. Such a negative trend was recorded by Eurostat staff in Latvia, Estonia and the Netherlands. The number of bankruptcy reports decreased by 42.2%, 23.7% and 20.1%. European experts note that enterprises in almost all spheres of the economy have gone bankrupt in the current situation. The largest number of bankrupt companies was found in the transport, catering, hospitality, educational and socio-cultural sectors....

BELAVIA AIRLINES MIGHT FACE BANKRUPTCY DUE TO THE EU SANCTIONS

The RyanAir airliner, which made an emergency landing in Minsk on May 23, may become the reason for the bankruptcy of the national air carrier of the Republic of Belarus. A significant number of experts come to this conclusion, commenting on the sanctions of the authorities of European countries. The EU summit that took place may be crucial for the national airline. The ban of Belavia on crossing the airspace of the EU countries threatens to actually cut off the company not only from flights to Europe, but also to other countries,...

EUROPEAN AUTHORITIES ARE CREATING A “ZOMBIE ECONOMY”

... necessary, believes the expert, so that competitive sectors of the economy can develop. A possible wave of bankruptcies, he believes, is not so bad, as it provides a process of "creative destruction of the resurgent economy." In contrast to European countries, in the United States, the number of applications to protect companies from bankruptcy in the third quarter of 2020 reached its highest level in the last decade. According to experts from the American law firm Polsinelli, which have compiled the corresponding bankruptcy index, this trend will continue in 2021. At the same time,...

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