Bulgaria's Registry Agency: Record Number of Bankruptcies in 2013
Some 820 Bulgarian companies went bankrupt in 2013, according Bulgaria's Registry Agency.
This is a record number, compared to 2008, when 250 companies closed for business.
According to the institution, 69 companies went bankrupt since the beginning of 2014.
A large number of businesses are also up for sale – most often hotels and restaurants opened before the start of the downturn in 2008, whose owners are experiencing problems with repaying bank credits.
- » Sofia, Varna Property Prices Rise, Still Well Below Pre-Crisis Peaks
- » Plevneliev: Southern Gas Corridor Will Boost Europe’s Energy Security
- » Bulgaria Energy Watchdog Proposes 9.8% Rise in Power Prices
- » Burgas Miners End Strike
- » Bulgaria’s Kozloduy NPP Doubled Profits in 8 Months – Former CEO
- » 2 Miners Participating in Underground Strike Taken to Hospital
I have to say that I am not surprised that restaurants are closing down. With so many of them available, customers do not have to put up with rude staff who help themselves to tips by shortchanging their customers and laugh at them behind their backs when they try to speak Bulgarian. And this is happening in a tourist area where I would have thought that restaurant owners would expect their staff to treat customers with respect, (and assume that many customers would not be Bulgarian) since after all the customers are paying their wages.