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Number of insolvent firms in Portugal drops by 25.6 pct between Jan.-April

Xinhua, May 9, 2017 Adjust font size:

The number of insolvent companies in Portugal dropped by 25.6 percent in the first four months of 2017 compared to the same period last year, local media reported on Tuesday.

Between January and April, 14,771 companies were created while 4,668 were forced to close, according to barometer Informa D&B.

The sectors which saw most companies created were services (4,791), retail (1,951), accommodation and restaurants (1,752), construction (1,324) and real estate (1,207).

Sectors which saw the most bankruptcies were manufacturing industries (177), services (157), and retail (154).

Portugal had to sign a 78 billion euro bailout program in 2011 when it was on the verge of bankruptcy, leading to harsh spending cuts and tax hikes. Endit