Over 1,000 companies in Bulgaria went bankrupt in the second quarter of 2024 - national statistics

In the second quarter of 2024, the newly registered companies in the country were 11,328. The number of companies in insolvency/bankruptcy proceedings, including those declared bankrupt, was 1,005, according to National Statistics Institute (NSI) data, released on July 17.

Of all the newly registered firms in the second quarter of 2024, most are in sector G "Trade; repair of motor vehicles and motorcycles" - 88.6%. The same sector is also dominated by those declared bankrupt - 77.8% of bankruptcies in the second quarter.

The distribution by economic sectors shows that the relative share of newly registered legal entities is the largest in sector G ‘Trade; car and motorcycle repair’ - 88.4% of all newly registered units in the first quarter of 2024. Among the companies declared bankrupt, the largest number again fall into sector G ‘Trade; repair of cars and motorcycles’ - 77.8% of the total number of bankrupt legal entities for the same period.

Compared to the same quarter of 2023, the total number of newly registered legal entities increased by 2.7% and that of bankruptcies increased by 2.1%.

Compared to the first quarter of 2024, new registrations decreased by 7.4%, while bankrupt/insolvent legal entities, including those declared bankrupt, increased by 1.3%.