Sverdlovsk Region: Number of Insolvent Business Up 5.7%

20 June 2019 (09:33)

UrBC, Yekaterinburg, June 20, 2019. The courts declared 129 Sverdlovsk Region-based enterprises bankrupt in the first quarter of 2019, which exceeded the figures for the previous quarter by 5.7%, the Center for Macroeconomic Analysis and Short-Term Forecasting’s research findings indicate.

Sverdlovsk Region thus came fourth in the rating of federal constituencies with the largest number of insolvent businesses, preceded only by Moscow (678 companies), Saint Petersburg (217), and Moscow Region (156).

The companies going bankrupt in the first quarter of the year amounted to 0.08% of all businesses registered as active in Sverdlovsk Region. This is, in fact, a higher percentage than that in almost any other part of the country.

According to Sverdlovsk Region Arbitration Court, there were some well-known local companies among those declared insolvent in the first quarter of 2019: BZSK Invest, Tagilbank, Uraldorstroy, Ural Ski Center, and Regional Investment Center. Some town council-run companies went bankrupt as well, including Kamensk Grid Company and Teplovodosnabzheniye.

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