75% Increase in Bankruptcy Applications in Israel

YERUSHALAYIM -
Closed shops and restaurants in Tel Aviv. (Miriam Alster/Flash90)

Israel saw a 75% increase in the number of bankruptcy applications submitted in June, in comparison to the year before, according to a report published by the Justice Ministry on Sunday.

Last month, 2,038 such applications were submitted compared to 1,165 applications in June 2019.

According to the data, most of the applications were submitted by businesses in the field of restaurants, tourism and events – all hard-hit by the coronavirus pandemic.