Applications for Bankruptcy Fall 9.9% in 2017

According to the Boa Vista SCPC (Service Central de credit protection), applications for bankruptcy in Brazil fell 9.9% quarterly date as compared to the same period in 2016. Small businesses, for example, represent about 88% of applications for bankruptcy and 92% of bankruptcies imposed. The industrial sector was representing the highest percentage in the requests for bankruptcy (39%), followed by the service sector (35%) and trade (26%). The basis for comparison, bankruptcies rose 7.6%, while ordered to applications for reorganization and judicial recoveries trasmitted there was 15.2% falls and 10.2%, respectively.