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Serasa Experian: Corporate bankruptcy filings in Brazil nearly double

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Serasa Experian: Corporate bankruptcy filings in Brazil nearly double

Corporate bankruptcy requests in Brazil nearly doubled inthe year to April 30, rising to 571 requests from 289 in the year-ago period,data from Serasa Experian showed.

Small businesses accounted for 327 of the bankruptcy filingsin the first four months of 2016, Reuters reported May 4, citing the creditresearch firm.

The spike in bankruptcy protection requests comes ascorporate borrowers struggle amid higher credit costs and a severe recession inBrazil, Reuters noted.