Portugal is second best country when it comes to avoiding bankruptcies

Portugal has the second best system to avoid bankruptcies in Europe, beaten only by the UK, according to a study by the European Commission (EC).

The PER programme, which when successful allows companies to recover from their difficult financial situation, was praised as one of the best anti-bankruptcy initiatives.

Pedro Gonçalves, Secretary of State for Innovation, Investment and Competitiveness, celebrated the news and said it was proof that “the EC acknowledges Portugal’s work in this area”.