The number of insolvent companies in the first quarter fell for the first time since before the pandemic, but this is the calm before the storm. The conflict in the Middle East will significantly boost the statistics, writes 'Rzeczpospolita’.
As many as 71 percent of all restructuring arrangements are annulled within two years of the court’s approval. At the same time, the number of enterprises whose financial situation makes it impossible to conduct bankruptcy proceedings is growing rapidly. These are some of the alarming conclusions from a report by CMT, described by 'Rzeczpospolita’. Experts are clear: bankruptcy should not be a game of time.
’Key decisions should be made based on reliable financial data, enabling credible planning of cash flows and assessment of the ability to restore profitability, and not solely on the debtor’s declarations or overly optimistic assumptions aimed at convincing creditors to accept the arrangement,’ stresses Maciej Stradomski, a member of the board at CMT Advisory.
The calm before the storm
Improving the effectiveness of restructuring processes is particularly important in the face of the growing number of insolvencies. Although data for the first quarter of 2026 indicate a decline, this is not due to an improvement in companies’ situations, but rather a combination of several formal factors (e.g., some companies disappeared from statistics due to a change in legal classification).
Moreover, the first-quarter data do not yet take into account the deterioration of the macroeconomic environment following the escalation of the conflict in the Middle East. The geopolitical shock is expected to hit supply chains, energy costs, and consumer demand, pushing many already fragile businesses over the edge.
Restructuring under the microscope
Experts point out that the current restructuring system in Poland suffers from fundamental flaws. Many debtors file for restructuring not to genuinely save the business, but to gain temporary protection from creditors. The result is a high failure rate of arrangements and wasted resources for all parties involved.
The report recommends stricter verification of financial projections submitted by debtors and greater involvement of independent experts in the process. 'We need a system that rewards honest attempts at rescue and penalizes those who abuse the procedures,’ adds Stradomski.
Without such reforms, the coming wave of bankruptcies, fueled by the Middle Eastern crisis, could overwhelm the courts and leave thousands of creditors empty-handed.
Źródło: WNP.PL, Fot. ArtMediaWorx / Shutterstock
