Increase in the number of bankruptcies in Ukraine

As of today, 651 bankruptcy cases of individuals have been registered in Ukraine, which is a significant increase compared to last year. Since the beginning of summer, the number of such cases has almost doubled. Most bankruptcies are reported in Kyiv, Kyiv region and Dnipropetrovs'k region, where 64% of bankrupts are aged 25 to 45.

According to Opendatabot, more bankruptcy cases have been opened so far than in the whole of 2023, when 575 such cases were considered. This indicates a growing demand for bankruptcy procedures among Ukrainians.

It is noted that the largest share of bankrupts is made up of persons aged 25 to 45 years - 64.1%. At the same time, 28.7% of bankrupts are over 45 years old. The statistics also show that 51% of bankrupts are women and 48% are men, indicating that the problem is widespread among different social groups.

Kyiv is the leader in terms of the number of bankrupts, with 95 cases, which is 15% of the total. The second place is taken by Kyiv region with 58 cases, which is 9% of the total number, and the third position is occupied by Dnipropetrovska region with 53 cases, which is also 8%.

Denys Lykhopiok, the insolvency administrator, emphasises that the current increase in bankruptcies is most likely the result of ‘pent-up demand’ rather than a rapid increase due to one specific factor.

He also recalls that for more than a year there was a moratorium on most debt collection, which led to a build-up of liabilities. After the moratorium was lifted, private and public bailiffs began reminding debtors of their obligations, which may have encouraged people to seek solutions through insolvency proceedings.

This situation indicates that Ukrainians are increasingly willing to acknowledge their financial difficulties and seek ways to restore their solvency.