Close to 150 large companies went bust in Q2 2020

<?xml version="1.0" encoding="UTF-8"?><modsCollection xmlns="http://www.loc.gov/mods/v3" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-8.xsd">
<mods version="3.8">
<titleInfo>
<title>Close to 150 large companies went bust in Q2 2020</title>
</titleInfo>
<name type="personal" usage="primary" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20120004023">
<namePart>Lemerle, Maxime</namePart>
<nameIdentifier>MAPA20120004023</nameIdentifier>
</name>
<name type="corporate" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20140005529">
<namePart>Euler Hermes</namePart>
<nameIdentifier>MAPA20140005529</nameIdentifier>
</name>
<name type="corporate" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080447007">
<namePart>Allianz</namePart>
<nameIdentifier>MAPA20080447007</nameIdentifier>
</name>
<typeOfResource>text</typeOfResource>
<originInfo>
<place>
<placeTerm type="code" authority="marccountry">fra</placeTerm>
</place>
<issuance>monographic</issuance>
<place>
<placeTerm type="text">Paris</placeTerm>
</place>
<place>
<placeTerm type="text">Munich</placeTerm>
</place>
<publisher>Euler Hermes</publisher>
<publisher>Allianz</publisher>
<dateIssued>2020</dateIssued>
</originInfo>
<language>
<languageTerm type="code" authority="iso639-2b">eng</languageTerm>
</language>
<physicalDescription>
<form authority="marcform">print</form>
<internetMediaType>application/pdf</internetMediaType>
<extent>4 p.</extent>
</physicalDescription>
<abstract displayLabel="Summary">In the second quarter of 2020, 147 large companies- with turnover above EUR50mn - went insolvent, representing an increase by +70 cases compared to Q12020 (+91% q/q) and +73 compared to Q2 of last year (+99% y/y). The cumulative turnover of insolvent major componies also surged to EUR106.9bn (+ 155% q/q and + 138% y/y). All three sub-cotegories of componies we monitor by size of turnover posted a record level of major insolvencies: 22 cases in Q2 ( + 12 q/q) for those with a tu rnover exceeding EUR 1bn; 77 ( +46) for those with o turnover between EUR100mn and EUR1bn; and 48 (+12) for those with turnover between EUR50mn and EUR100mn. In this context, the average turnover af major companies becoming insolvent jumped to EUR727mn in Q2 2020 compared to EUR544mn in Q1 and EUR601mn in 2019.</abstract>
<note type="statement of responsibility">Maxime Lemerle</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080611897">
<topic>Perspectivas económicas</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080601645">
<topic>Finanzas corporativas</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080565206">
<topic>Corporaciones</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080558949">
<topic>Insolvencia</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20090026643">
<topic>Impagos</topic>
</subject>
<classification authority="">922.114</classification>
<relatedItem type="series">
<titleInfo>
<title>Allianz Research</title>
</titleInfo>
</relatedItem>
<relatedItem type="series" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20200011583">
<titleInfo>
<title>Allianz Research</title>
</titleInfo>
</relatedItem>
<recordInfo>
<recordContentSource authority="marcorg">MAP</recordContentSource>
<recordCreationDate encoding="marc">200210</recordCreationDate>
<recordChangeDate encoding="iso8601">20200812095446.0</recordChangeDate>
<recordIdentifier source="MAP">MAP20200027140</recordIdentifier>
<languageOfCataloging>
<languageTerm type="code" authority="iso639-2b">eng</languageTerm>
</languageOfCataloging>
</recordInfo>
</mods>
</modsCollection>