FAMILIES and companies based in the Balearic Islands who declared they had gone into administration last year, as a result of being unable to make payments and clear debts, rose to 127 - an increase of 182 percent on 2007 when 45 registered for bankruptcy.
Of the total number of last year's debtors, 106 called in the Receiver voluntarily and 21 were obliged to. Companies which acknowledged they were unable to continue operating numbered 104 whilst 23 were families. Twenty- five percent of the companies who became insolvent in 2008 were in the service or construction industries, and in real estate.
In the fourth quarter of 2008'38 debtors in the Balearic Islands went into administration, 137.5 percent more than during the same period in the previous year. Twenty-seven of these chose to go bankrupt voluntarily and 11 were forced into it. Of this 38, 35 were companies (191.6 percent more than in the corresponding period in 2007) and 3 were families (one less). Of all the companies who became insolvent during the final quarter of the year, 42.8 percent had been involved in the construction industry, whilst 14.3 percent were in real estate and the service industry.
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