Ukrainian companies closures drop by over two-fold in 2023

Only 17% of them went through bankruptcy proceedings, while the rest independently decided to cease their operations. For comparison, in 2021, the proportion of companies facing bankruptcy was 5.1%.

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The number of companies that initiated the process of closure

Month	March 2022	April	May	June	July	August	September	October	November	December	January 2023	February	March	April	May	June	July	August	September	October	November
The number of companies	11	15	34	52	42	29	47	47	50	885	459	404	562	826	208	645	487	166	578	539	399

Most businesses are closing in Kyiv: 893 cases. In second place on the list is Lviv region, where 526 companies closed, and in third place is Dnipropetrovsk region with 479 businesses closing.

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Mostly, non-profit organizations are closing — 1068 companies. Wholesale trade businesses come second — 826 companies, and closing the list are companies in agriculture — 492 cases.

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The most talked-about bankruptcy of the year is the process of closing the Ukraine International Airlines “UIA” associated with Ihor Kolomoisky. However, it is not the largest business that has ceased operations since the beginning of the full-war. The top three companies in the closing process by turnover include Ilyich iron and steel works of Mariupol , Azovstal Iron and Steel Works, and one of the companies in the WOG network.