More Companies Bow Out of Competition

Krasnodar, 21 January. In 2021, the number of corporate bankruptcies in Krasnodar Krai reportedly grew by 8.2% to 316 cases. 

Last year, the Kuban region entered top list of Russian regions on the number of bankrupt companies. According to the Federal Register of Legally Relevant Data on Legal Entities’ Activities, 3% of the total number of bankrupted companied fell to Krasnodar Krai. “The increase of corporate bankruptcies last year did not fully compensate for their reduction in 2020 <…> On the whole, the forecasts about bankruptcies becoming more intensive did not come true; what is more, the current figure stays lower than before the pandemic,” Federal Register Director Aleksei Yukhnin commented.

 In Russia, the number of corporate bankruptcies last year grew by 3.9% to 10,300 cases. Over a half of the cases fell to commerce (2,580 new bankruptcies), construction sector (2,310 cases), and transactions with realty (1,190 cases).

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