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'Italy lost 111,000 firms in 2013'

7.3% more than 2012

04 March, 10:41
'Italy lost 111,000 firms in 2013' (ANSA) - Milan, March 4 - Some 111,000 Italia companies went bust in 2013, one of the worst years since the 2008 global financial crisis, according to figures from the Cerved research agency obtained by ANSA Tuesday. Bankruptcies and liquidations were 7.3% up on 2012, beating all records, the survey said, with industry particularly hard hit, especially in the once-booming north-east.

Italy's longest postwar recession officially ended with flat growth in the third quarter of last year and a 0.1% rise in the last quarter but unemployment is still running at a record high and businesses are struggling to recover.

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