HK ČR: 20% of firms to go bankrupt in one month

(ČIA) If the current restrictions continue, one-fifth of sole traders and companies whose operations were closed down or restricted by the government’s emergency measures will not be able to keep their business for more than one month. A survey by the Czech Chamber of Commerce (HK ČR) and entrepreneurial associations also shows that an additional, up to 40% of firms from the most affected sectors may be heading for insolvency within three months. The current government programmes cover less than one-third of wage and fixed costs to most entrepreneurs. They are trying to cover the remaining 70% with loans from banks, family and friends, or their own reserves. Many of them are getting indebted with their suppliers.



Register newsletter

Get to know about Nordic Chamber, our press releases and all news, straight to your inbox.