Despite the November increase, the number of bankruptcies so far this year has been largely stable compared to the last year before the pandemic, national statistics office Statec said.

In a report published this week, it said that so far 1,145 companies had been declared bankrupt in 2020, compared to 1,121 last year and up from 1,070 in 2018.

“Given the particular situation linked to covid-19, Statec expects an increase in the number of bankruptcies in the months to come,” the report said.