More bankruptcies will affect exports

The expected rise in overseas companies going bankrupt in 2006 will affect Israeli exporters, the Israeli Credit Insurance Company (ICIC) said Tuesday.

By AVI KRAWITZ
December 28, 2005 07:46

The expected rise in overseas companies going bankrupt in 2006 will affect Israeli exporters, the Israeli Credit Insurance Company (ICIC) said Tuesday. ICIC warned that it expects a change in the recent downward trend of international bankruptcies, which would also affect customers of Israeli exporters. Bankruptcies dropped in the US by 2% in 2004 and a further percent this year but the ICIC said it expects 3% growth in the number of companies filing for Chapter 11 in 2006. The same trend was forecast for Europe and the Far east.


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