More than a thousand Hungarian building companies were wound up in the first half of 2009, according to the latest data by business registry Opten.
According to vg.hu, the number is nearly double that of the same period last year, and up 22% from the previous half.
Meanwhile, the number of newly-established construction companies fell almost half, to 2,600 in January-June from the year-ago period. The [building] sector, which has been hit hardest of all industries by the crisis in Hungary, is now showing signs of “clearing up,” said Opten strategic director Hajnalka Csorbai.
The fact that more builders are “just” winding up their business rather than going bankrupt is a good sign for the sector, because it means more companies are going the “honest” way of shutting down and fewer companies are springing up overnight, Csorbai said.
The number of forced liquidations in this segment rose “only” 22% in the first half to 1,700, compared to the same period last year, but it picked up somewhat in the second quarter compared to the first, which, according to Csorbai, goes to show the building sector’s hardships are not over just yet.