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EU reaching record high bankruptcies level in Q4 2022 — Eurostat

Generally, in all four quarters of 2022, business registrations levels were higher than during the pre-COVID pandemic period 2015-2019

BRUSSELS, February 17. /TASS/. The level of bankruptcies in the European Union was record high in the fourth quarter of 2022 since the start of monitoring in 2015, the Eurostat statistical agency reported on Friday.

"The number of bankruptcy declarations among EU businesses increased substantially in the fourth quarter of 2022 (+26.8% compared with the previous quarter) and reached the highest levels since the start of the data collection in 2015)," Eurostat said. "The number of bankruptcy declarations increased during all four quarters of 2022," the statistical agency said.

Registrations of new businesses "decreased slightly by 0.2% in the fourth quarter of 2022 compared with the previous quarter," Eurostat said. "Generally, in all four quarters of 2022, business registrations levels were higher than during the pre-COVID pandemic period 2015-2019," it added.