A 30% increase in business bankruptcies in 2024 led to over 3,300 job losses, with the construction, hospitality, and commerce sectors hit hardest, according to new data.

According to the latest data from the Ministry of Justice and the National Institute of Statistics and Economic Studies (STATEC), 367 businesses were declared bankrupt and 22 were wound up in the fourth quarter of 2024. This marks a significant rise in insolvencies compared to 2023.

In 2024, a total of 1,189 bankruptcies were recorded, representing an increase of nearly 30% compared to 2023, when 919 bankruptcies were declared. Compared with 2023, the number of bankruptcies of businesses with salaried employees (>0) is up by more than 26%, while the number of bankruptcies of businesses with more than 10 employees at the time of their bankruptcy surged by 40%.

The trends varied across sectors, excluding holding companies and investment funds. The sharpest increases in bankruptcies were observed in education, healthcare, and related activities (+65%), information and communication (+50%), and real estate (+49%). In contrast, the transport and storage sector saw a 25% decline in bankruptcies, while the commerce sector remained relatively stable.

The rise in bankruptcies also led to a significant increase in job losses. In 2024, 3,316 salaried positions were lost due to insolvencies, a 24% increase compared to 2023. However, these figures remain provisional, as data on wage and salary employment for the final quarter of 2024 are still incomplete.

The construction sector accounted for the largest share of job losses (39%), followed by hospitality (17%) and commerce (14%).

In terms of absolute numbers, holding companies and investment funds topped the list with 143 bankruptcies, while construction companies followed with 42.