Opten: the number of liquidations is on peak

In July, liquidation proceedings were initated against 2251 companies. In the last three months the monthly average of liquidation proceedings was 2,328 which was 20 percent higher than a year ago. After 2008 and 2011, this is the third wave of liquidations in the Hungarian economy, primarily due to the increasing regulatory activity – Opten told MTI.

Last year, after the first quarter, the number of liquidations increased, which had two basic reasons. As a result of the chain of debts insolvency occurred at several suppliers. The National Tax and Customs Authority (NAV) also tightened its controls, resulting in a substantial increase in the number of insolvency procedures. (MTI)