Global General
Brazil bankruptcies decline in 2009
(Xinhua)
Updated: 2010-01-08 15:40
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RIO DE JANEIRO: Fewer companies went bankrupt in Brazil in 2009 compared to the previous year despite the effects of the global economic crisis on the national economy, a new report says.
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The report showed that 831 bankruptcies, or 91.5 percent of the total, involved small companies, down 0.7 percent from 2008.
Meanwhile, the number of judicial recuperations, a process where companies can overcome their financial troubles and ensure the continuity of employment for their workers, rose to 492 in 2009.
Serasa predicted that Brazil would sustain its economic recovery in 2010 and record an additional decrease in the number of bankruptcies in the country.
