Bankruptcies in October increased for 7 consecutive months, driven by high prices due to the COVID-19 pandemic

Nationwide corporate bankruptcies (debt amount of 10 million yen or more) in October announced by Tokyo Shoko Research on the 9th increased for 7 consecutive months to 596 cases, up 13.5% from the same month last year. The number of cases where business performance recovery from the novel coronavirus did not progress and went bankrupt has increased. High prices against the backdrop of Russia's invasion of Ukraine also drove it down.
　COVID-related bankruptcies increased 42.8% to 230 cases, breaking the monthly high for the second consecutive month. The total amount of debt was 86.995 billion yen, down 11.6%. Large-scale bankruptcies of 1 billion yen or more declined, and the amount of money was pushed down.
　By industry, the food and beverage manufacturing industry increased significantly, about 3.6 times to 25 cases, and the food and beverage retail business increased by about 2.4 times to 31 cases.

Author: Kyodo News

Last Updated: 11/9 (Wed) 15:59