Bankruptcy opened in over 1,600 companies in Lithuania last year

The publication presents statistical information about the enterprises against which a bankruptcy process has been initiated in 2014 and 1993-2014 by economic activity, legal form, year of the institution and initiators of the bankruptcy process.

In 2014, bankruptcy processes were instituted in 1,684 enterprises; in 104 of them, bankruptcy processes were completed by the end of the same year. In 2014, the number of bankruptcy processes instituted was by 8.5 percent higher than in 2013. In 2014, bankruptcy processes were completed in 1,607 enterprises, which is by 10.9 percent more than in 2013, Statistics Lithuania reports.

Over 1993-2014, bankruptcy was instituted in 16,220 enterprises and 16 banks. In 15,707 enterprises, bankruptcy processes were instituted in court, while 513 enterprises were subjected to extrajudicial bankruptcy processes. Bankruptcy processes have already been completed in 12,098 enterprises (74.6 percent of the total number of enterprises against which a bankruptcy process has been initiated) and 14 banks. Out of that number, 11,767 enterprises were liquidated, 3 – reorganised, 17 – sanified, while in the rest of 311 enterprises bankruptcy processes were terminated or composition with the creditors was concluded.

In 4,122 enterprises, bankruptcy processes are still in progress: 3,568 enterprises are under liquidation, and in 554 enterprises a decision concerning the execution of bankruptcy procedures has not been adopted yet.