OREANDA-NEWS By the end of January, 571 companies were declared bankrupt in Russia, and in February — 771. The annual increase in insolvent firms for the first month of 2024 was about 57 percent, for the second - 61 percent, the Kommersant newspaper reports, citing data from the Unified Federal Register of Bankruptcy Information (EFRS).

For comparison, in January 2023, 364 companies in Russia were declared bankrupt, and in February - 478 organizations. According to the results of the first two months of 2024, a total of 1,342 companies turned out to be insolvent.

The increase at the beginning of the year was the first significant increase since the first half of 2021. At that time, the number of corporate bankruptcies in Russia increased by 9.2 percent. In 2022 and 2023, the trend began to decline. If 9047 legal entities were declared insolvent the year before last, then 7,400 companies were declared insolvent in the first 12 months of 2023.

Orchards advisor Vadim Borodkin attributes the increase in the number of corporate bankruptcies in early 2024 to the reluctance of creditors to negotiate debt restructuring. The lawyer admitted that in January and February, big business on both the creditors' and debtors' sides began to "take social responsibility more seriously."

Recently, the number of bankruptcies of individuals has increased significantly in Russia. Thus, according to Fedresurs, according to the results of the first half of 2023, a total of a record 163 thousand citizens were declared insolvent in the country. In annual terms, the indicator increased by 34 percent.