Retail and agriculture have entered the danger zone
In the first quarter of 2011 the number of insolvency procedures grew by 27 percent. This rate is higher than forecasted and Coface Hungary’s opinion is that it is because the trend reversal the domestic economy hoped for only happened in the sectors producing for export. The highest number of insolvency procedures occurred in the building/construction sector and in wholesale/retail. This year brings numerous new challenges as several sectors are highly influenced by the increase in base material and fuel prices. Agricultural enterprises: those dealing exclusively with animal farming are fighting for survival, especially pig and poultry breeders. The situation of meat processing companies also took a negative turn. Coface Hungary’s managing director Gábor Kárpáti warned that even formerly prospering market players can experience negative change in a short period of time. The solution is involving an independent receivable management company in negotiating late payments with partners
Related news
Related news
In June, the annual decline in producer prices slowed down in Germany
In Germany, producer prices fell by 1.6 percent year-on-year in…
Read more >Rural accommodations closed a stronger half year than last year
The momentum of tourism in 2023 will continue to make…
Read more >Munch is now available in every Auchan store
From the beginning of May you can get the three…
Read more >