site.btaFewer Companies in Bulgaria Go Bankrupt in Q3 of 2003, Year on Year

In the third quarter of 2023, newly registered legal entities in Bulgaria numbered 9,829, and 829 legal entities were declared bankrupt, the National Statistical Institute (NSI) reported on Tuesday. Compared to the third quarter of 2022, the total number of newly registered entities decreased by 6.5%, and the number of those that became bankrupt declined by 25.8%.

Compared to the second quarter of 2023, the newly registered legal entities decreased by 10.8%, and those that were declared bankruptcy by 15.8%

Of all newly registered legal entities in the third quarter of 2023, the largest share (88.1%) were in sector G 'Trade; car and motorcycle repair'. This was also the sector with the largest number of companies declared bankrupt: 77.1% of the total.

The NSI data show that 11,025 legal entities were newly registered and 984 were declared bankrupt in Bulgaria in the second quarter of 2023. Compared to the third quarter of 2022, the total number of new registrations decreased by 2.6% and the total number of bankruptcies declined by 23.8%.

In terms of economic sector, 'Trade; car and motorcycle repair' had the largest share of new registrations in the second quarter of 2023: 89.4%, as well as the largest share of bankruptcies: 75.4% of the total.