Analysts predict mass bankruptcies in Russia in 2021

14:17, 18 January 2021
Analysts predict mass bankruptcies in Russia in 2021 Photo: Pexels

Experts at a domestic consulting company said that up to 260,000 Russians might be asked to declare bankruptcy in 2021. These indicators are 65% higher than last year's figures.

More than 157,000 Russians filed bankruptcy documents in 2020. Since July, the country's residents have submitted at least 15,000 applications every month. The figures peaked in December when over 19,000 documents were received.

Company's financial consultant Sergei Novikov said that the increase in the number of bankrupts is associated not only with the pandemic. In particular, the reason is that many began to regard this process as a civilized instrument for resolving insolvency.

Increase in the total number of applications within 65% to the level of 2020; maintaining the level of conversion of submitted applications into ongoing procedures at 94%; the growth of debt restructuring procedures to 10% of the total number of applications filed, TASS quotes the analysts. reported earlier that Russian expert said the country's economy is adapted to 'coronavirus' crisis.