The Corona sanitary crisis has had impacts on all the companies from all the activity sectors all around the world.
Governments have made everything possible in order to prevent the crisis from triggering a wave of insolvencies in Europe. And thus, the number of corporate insolvencies in Western Europe in 2020 was the lowest in three decades. The main part of the European countries saw a drop in the insolvency cases compared to the previous years.
"Above all, the financial aid measures and changes to relevant insolvency legislation have led in total to the paradoxical decline in registered insolvency cases." Says Patrik-Ludwig Hantzsch, Head of Creditreform Economic Research in Neuss.