Bankruptcies rose 6.5% in October

The Commerce Ministry showed on Thursday that a total of 1,516 companies shut down their business in October, an increase of 6.54 per cent from the same period last year. Most of the companies are in the construction, property development and electrical appliance distribution industries.

In the same month, 3,695 companies were registered, up 4.92 per cent year on year of 152 companies. Most of the newly-registered companies are in construction, property development and services sectors.

"These companies could be established to support the public sector's construction projects which would commence in this new fiscal year," said Khanissorn Nawanukroh, director-general of the Business Development Department.

He also noted that the number of shutdown companies is a jigsaw that reflects the economic conditions. "These companies shut down their business a year before they came to officially withdraw the company registration with the department."

- The Nation

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Bankruptcies rose 6.5% in October

The Commerce Ministry showed on Thursday that a total of 1,516 companies shut down their business in October, an increase of 6.54 per cent from the same period last year. Most of the companies are in the construction, property development and electrical appliance distribution industries.

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