As a result of the prolonged pandemic, more and more companies in the Wielkopolska MICE (meeting-incentive-conferences-exhibitions) industry are teetering on the edge of financial liquidity. The sector dealing with the organization of meetings, congresses and business trips is unable to function with a drastically reduced number of orders. In order to prevent the risk of bankruptcy, companies in the industry at risk of insolvency should now reach for recovery tools, such as simplified restructuring.
The partial lockdown of the economy resulted in huge losses in the business tourism industry, which provided over 220 thousand jobs in Poland. jobs. According to the data National Register Debts (KRD) since the beginning of this year. the debt of this sector has already doubled and at the end of September amounted to PLN 16.6 million. The problems may soon turn out to be much bigger, because KRD is still reporting systematically increasing problems with payments by contractors. At the end of the third quarter of this year, companies organizing business conferences and congresses They had over PLN 42 million to recover.
Wielkopolska is the runner-up on the debt list
Companies have the biggest debt problems from the Mazowieckie and Wielkopolskie voivodeships, which are in arrears with repayment, respectively PLN 8.8 million and PLN 2.9 million, which constitutes 70% of the industry's debts nationwide. However, it is hardly surprising, because these regions organize by far the largest number of conferences and business congresses.
"In March this year, the MICE industry was deprived of the possibility of normal functioning almost overnight. Many events were planned for months, companies made huge investments, and in the end so they had to transfer the events to the network – although even this was not always possible. With the simultaneous, very high maintenance costs, most companies found themselves in a very difficult situation financial situation, which cannot be significantly improved by one-time aid solutions from the State. This sector needs professional restructuring and financial advice today, as well as effective repair tools that will really protect companies and help them survive the most difficult months" – says Małgorzata Anisimowicz, qualified restructuring advisor and president PMR Restructuring Management Board, which has been supporting companies from the Wielkopolska Province for years.
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