Press release

Milan, 16th February 2016 – It’s been a year of ups and downs for Italian businesses, according to the picture drawn by Cerved, the largest credit information provider in Italy. Based on its last “Monitor of Bankruptcies, Insolvency Proceedings and Business Closures - 4Q 2014”, there were 104,000 business closures last year, including bankruptcies, non-bankruptcy insolvency proceedings and voluntary liquidations. A figure that still marks an improvements (3.5%) compared to the 2013 peak. "The year just ended has seen encouraging elements next to negative aspects - says Gianandrea De Bernardis, Chief Executive Officer at Cerved - The record growth of Italian companies gone bankrupt in 2014 and the effects on employment reflect the long wave of the crisis, caused by more than six years of recession and economic weakness. On the other hand, the decline in the number of voluntary liquidations suggests that business owners’ confidence is restoring, giving hope for the coming quarters of 2015."