Number of Bankrupt Companies up 30 percent in Chile
Santiago de Chile, Sep. 17 (Prensa Latina) A total of 1,200 companies in Chile have begun bankruptcy proceedings during the first eight months of the year, which represents 30 percent more than in the same period of 2018.
The figures from the Superintendency of Insolvency and Entreprenourship(SUPERIR) were reported this Tuesday by the newspaper El Mercurio, which indicates as the main cause the domestic economic situation where private consumption has weakened.
The data also shows that small and medium-sized companies are the most vulnerable given the difficult economic situation, representing 86% of the 66,755 firms that appear as failing to meet payments.
Construction and trade are among the most affected sectors, which is reflected in the frequent news on the closure of companies or the reduction of personnel.
More:
https://www.plenglish.com/index.php?o=rn&id=47025&SEO=number-of-bankrupt-companies-up-30-percent-in-chile
