Retail ventures are stain on liquidity

According to Coface Hungary the number of proceeding because of insolvency grow by 13% in the first half of 2008 in Hungary.

 The most insolvency proceedings,
starting this year, stem from building industry (17%) and retail
sector (26%). Almost 50% of proceedings (6501 cases) were
liquidation, almost half of it (5009 cases) final settlements and
only a few (10 cases) bankruptcy proceedings. Specialists said, the
low number of bucruptcy against liquidation or final settlement is a
big problem for the Hungarian Economy.

In regional comparison Hungary has an
extra high level of insolvency proceeding – said Zoltan Dercze,
Coface's country director. Countries with similar population and
ventures have yearly one-two thousands insolvency procedings contrary
to Hungary's half year's 10,000 and whole year's 20,000.