251 companies concluded bankruptcy in Lithuania in Q1

In Lithuania, a total of 251 companies successfully concluded their bankruptcy proceedings during the first quarter of the current year. This figure reflects the ongoing economic adjustments within the country's business landscape.

During this period, creditors saw a recovery rate of approximately 9.6% on their claims. This translates to roughly 8.6 million euros being recovered from a total of 89 million euros owed. This recovery rate is slightly lower than the same period in the previous year, when 12.4% of claims were satisfied, amounting to 10.8 million euros recovered from 87.4 million euros.

The data indicates that 221 bankruptcy cases were initiated through the courts, while an additional 39 were commenced outside of the judicial system. Analysis of the newly initiated bankruptcy processes reveals that the wholesale and retail trade sector was the most affected, with 62 companies (23.8% of the total) entering bankruptcy. The construction sector followed with 44 bankruptcies (16.9%), and the transport and storage sector with 37 cases (14.2%). The manufacturing sector saw 10 companies go bankrupt, representing 10% of the total number of bankruptcies.