Polish firms in bankruptcy or restructuring had over 151 million zloty in debts, with warning signs detectable years earlier.
Debt Tightens Over Years – KRD Report Data
Between July and December 2025, 216 enterprises declared bankruptcy, while 2,508 entered restructuring. Among them, 1,258 entities—including 1,116 firms in restructuring and 142 bankruptcies—were previously listed in KRD. These companies owed over 151 million zloty, with 115.2 million zloty for restructuring firms and 36.1 million zloty for bankrupt ones.
How to Spot a Bankrupt? Warning Signs Visible 36 Months Earlier
Among firms that eventually went bankrupt, 20% were in KRD three years prior, 28% two years before, and 42% one year before. For restructuring firms, the figures were 16%, 21%, and 29%, respectively. Even without formal bankruptcy, the risk to creditors remains high when financial distress is evident in advance.
Increasing Debts and Creditors Over Time
Total debt for firms in proceedings fell slightly from 157.7 million zloty to 151.3 million zloty in H2 2025 compared to H1. However, the share of firms in KRD 3, 2, or 1 years before a court decision rose by 2–9 percentage points. Adam Łącki, KRD president, notes more firms appear in debt registers long before court rulings, though awareness remains insufficient.
Ranking of Threatened Industries: Where Payment Blockages Are Largest?
Restructuring began for 687 sole proprietorships and 424 commercial companies, mostly in construction (186), trade (169), and industry (161). Bankruptcies included 16 sole proprietorships and 126 companies, led by industrial processing (40) and trade (28). Highest arrears were in industrial processing (26 million zloty for restructuring) and trade (8.8 million zloty for bankruptcy).
Financial Institutions and SMEs in the Crosshairs of Debtors
Institutions like banks, lessors, and insurers are owed over 27.6 million zloty by restructuring firms. Other major creditors include energy suppliers (6.3 million zloty), industrial and trade enterprises (5.9 million each), property managers (10.1 million), service firms (5.5 million), and construction companies (4.4 million zloty).
