. [The above information comes from a survey by the Czech Credit Bureau and was, of course, first published by CTK. Over the past four years, corporate bankruptcies have been cut in half, and the overall number of bankruptcies has dropped by one-third.

Compared to 2017, there were 120 fewer corporate bankruptcies last year, a 16% decrease indeed. The number of specific corporate bankruptcies decreased by a full 21% as well. Compared to the previous year, corporate bankruptcies were down 15%.
Most bankruptcies were declared in Prague, South Moravia, and Moravian Silesia. The best performing region was Vysotina, where only nine companies were declared bankrupt. The Karlovy Vary and Liberec regions also performed well, with only 15 bankruptcies.

By industry, trade was the most common sector, followed by industry, with construction in third place. The strongest performing sectors were agriculture and mining. Next were the business sectors such as accommodation and food, and of course transportation, which performed well.

Overall, this situation is, of course, influenced by the still favorable macroeconomic conditions, i.e., still high external demand and low unemployment with rising real wages. This, of course, has also led to an increase in domestic demand and a willingness of consumers to increase their household spending

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A company or business approaches bankruptcy or insolvency when it is unable to meet its obligations and pay what it owes. At this point, it is necessary to initiate insolvency proceedings, i.e., to file a petition, not only at the point of insolvency, but also at the point when such a situation is inevitably approaching. Such a situation arises when, after considering all available circumstances and supporting documents, it is clear that the entrepreneur or company will not be able to fulfill a substantial portion of its financial obligations properly and on time
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