Number of Defaulting Companies in Brazil Increased 11 Percent

The Northeast region showed the greatest increase in delinquent companies, 16.64 percent, although the report did not include the state of Sao Paulo.

By Nelson Belen, Contributing Reporter

RIO DE JANEIRO, BRAZIL – After Brazil suffered its worst GDP decline in over 25 years, an increasing number of businesses are now starting to default on their debts. A survey released on Wednesday (April 27th) by the Credit Protection Service (SPC) and the National Confederation of Shopkeepers, showed the number of delinquent companies grew 11.08 percent in March compared to the same period last year.

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