Over 2,000 bankrupt business during recession
- Written by E.Tsiliopoulos
Deputy Finance minister Giorgos Mavraganis sent the ministry's report on bankrupt businesses in the age of recession to the parliament. It was asked by majority conservative MP Athanasios Bouras, who has been asking for measures which will help businesses closed due to the recession re-enter the market.
Since 2009, the first year of the economic crisis, 1,902 businesses have declared bankruptcy. In '09 336 businesses closed . That number rose to 359 in 2010 and 442 in 2011, before coming down to 412 in 2012 and 353 in 2013.
Answering the MP, the minister mentioned the provisions of the Bankruptcy Code, giving troubled businesses the opportunity to regulate their debts. He also talked about a new provision for businesses in the threshold of bankruptcy, giving them the right to restructuring while being protected by their debtors under the guarantee of the state.
