Japan: Fewer Textile Firms Go Bankrupt in 1st Half
Textile-related firms going bankrupt in the first half of 2004 numbered 325 cases, down 20% compared to the same period of 2003. The reasons for the bankruptcy decrease are: (1) the settlement of big firms with large bad debts and a decrease in chain-reaction bankruptcies; (2) a decrease in the number
The total liabilities decreased by 46.9% from the year before to 140,954 million yen. About 30% of bankrupted firms (99 cases) were in the retail sector.
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According to Credit Exchange Agency Inc., Osaka, the number of bankrupt textile firms in Japan during January - June 2002 was 505 with debts amounting ......
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