Business News

Number of Blocked Company Accounts Increasing

Ljubljana, 14 February (STA) - A total of 5,941 companies in Slovenia had defaulted on their payments in January 2011, mostly in construction and in retail. The number of companies whose accounts were blocked for at least five consecutive days increased by 22% year-on-year, according to data of the Agency for Public Legal Records and Related Services (AJPES).

The construction sector accounted for 22.5% of all the companies with defaults and the number of such businesses in the sector rose by 12.2% compared to a year before.

A year-on-year increase of as much as 28.3% was meanwhile recorded in the retail and motor vehicle repair and maintenance sectors and the share of these companies in the total number of those that had defaulted on their liabilities stood at 21.5%.

The daily amount of defaults also continues to rise. It reached EUR 412.3m in January 2011, which is 50.5% more year-on-year.

A total of EUR 121.2m in defaults came from construction companies alone, which is followed by retail, finance and insurance sectors.

AJPES's data includes all legal entities bar sole proprietors and only deals with defaulted payments that resulted in the blocking of the offender's bank accounts for at least five consecutive days.

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