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29/12/2017 - 11:10hs

Corporate insolvency up 3.7%

Data from credit bureau SPC Brasil and retail managers association CNDL shows debt in arrears by companies is increasing, albeit slower than it did last year.

São Paulo – The number of insolvent companies in Brazil increased by 3.71% year-on-year in November, according to the Corporate Insolvency Indicator from credit bureau Serviço de Proteção ao Crédito (SPC Brasil) and the National Confederation of Retail Business Owners (CNDL). In November from October, insolvency was up 0.53%.

In 2016 from 2015, insolvency had gone up 6.8%. SPC Brasil chairman Roque Pellizzaro said the fact that insolvency is climbing at a slower pace amid the economic crisis reflects an environment of increased restrictions on credit and reduced business owners’ propensity to invest. These factors, he explained, cause debt in arrears to decrease.

*Translated by Gabriel Pomerancblum

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