‘Israel’ Registers 40% Spike in Bankruptcy Claims In 2020

By staff, Agencies

A spike of 40 percent in bankruptcy claims has been registered in the past year, the Zionist government revealed on Wednesday, according to Walla News.

Data of 2020 revealed that some 4,000 more cases of businesses that have filed for insolvency were recorded than in the previous year.

These figures arrive on the back of the coronavirus crisis and the Zionist entity’s second full lockdown currently imposed across the occupied territories.

“The restrictions imposed on the economy in order to reduce the morbidity of the coronavirus have led to a sharp and unexpected change in the operation of the business sector,” a Zionist official within the Justice Ministry told Walla News.

This “also affects the incomes of many households and their ability to meet their obligations,” the official added.

According to the report, businesses such as restaurants and startups were over-represented in the bankruptcy claims in contrast to previous years.

The official assessed that the Zionist entity could see a sharp increase of insolvency files in the future, the effects to be mainly noticed in 2021.