More People in singapore going bankrupt

[abbby]

I am surprised to read this, as I have been noticing the surge in property buyers, and mostly Singaporeans as buyers. So who are these who are bankrupt..? Small business owners, casino players..?

https://www.channelnewsasia.com/comment ... ey-4172186

[Pal]

Not surprising, the Covid-19 changes people live and work. Many profitable business before the pandemic are no longer making any money after the pandemic.

Many small businesses are barely surviving in the pandemic and those who cannot restructure, re-invent their businesses are left in the cold. Look like how many retail stores are closing their doors. The pandemic changes everything.

[PNGMK]

Agreed with Pal - the unwinding of the pandemic issues is still ongoing.

[bxagw]

In local context, I believe its more than post-pandemic issue. Bankruptcy here not quite the same as US and other part of the world. Some people over here prefer to pay the debt "slowly", being a bankrupt hardly made a din to their daily life. Opening new company is a breeze and cheap compare to other countries. Youngsters who become bankrupt can always turn to their parents (we Asian - we "LOVE" our kids).

[Pal]

Yes, there are many issues causing bankruptcy.

But generally pandemic is causing havok to many trades. So unless we have the exact reasons, we can safely say that the growing trend of bankruptcy is due to the pandemic one way or another.