Spain loses more than 110,000 companies in recession | business | Hindustan Times
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Spain loses more than 110,000 companies in recession

The global economic recession forced a total of 110,058 Spanish companies to go out of business, the Spanish ministry of labour and immigration has said.

business Updated: Sep 03, 2010 13:40 IST

The global economic recession forced a total of 110,058 Spanish companies to go out of business, the Spanish ministry of labour and immigration has said.

Businesses which employed between 6 to 50 people have been hit hardest by the slump, with 47,835 such firms shutting down. The other major casualties were 39,708 enterprises having between two and five workers.

Interestingly, the number of companies with workforce of over 500, increased by 96 between January 2008 and the end of July 2010.

A total of 33,332 new companies were registered with the social security bureau since February this year.