Business people applaud this initiative, but they would also want a preventive system to be put in place to signal that a business has turned risky, it wrote.
Bankruptcy proceedings last year were started against 1,960 companies, which accounted for almost 2% of all economic entities in the country (up 16.3% compared with 2014).
The number of bankruptcies launched in 2015 was higher than in 2009, when many businesses in Lithuania were decimated by the economic crisis and bankruptcy procedures were started against 1,844 companies.
Sodra and the tax authority were the most active bankruptcy initiators last year, accounting for 32.2% and 26.9% of all cases, respectively.
