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Number of bankrupt construction companies in Russia grows twofold

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Number of bankrupt construction companies in Russia grows twofold

Over the period of the first half of the year 2016, the number of the construction companies that went bankrupt has increased twofold, as is stated in a research conducted by the Construction Sector Rating Agency.


“A sharp increase in the portion of overdue indebtedness, which was in evidence as early as at the beginning of 2015 and is continuing now, has led to a spate of bankrupts among the construction companies in Russia. Following the results of the first half of the year 2016, over 1,600 companies have been declared bankrupt, what is twice as much as the figure of a similar period last year”, reads the document.

At the same time, despite stagnation, a number of the construction market actors has grown by 4%. As the experts of the Construction Sector Rating Agency explained, it’s possible that the significant portion of these companies don’t carry out real productive activity.

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