Covid-19 impact: Hong Kong's bankruptcy filings jumped to 17-yr high in May

The total number of bankruptcy filings in the first five months was 3,605 - 12.4 per cent higher than 3,207 a year earlier

Bankruptcy filings in Hong Kong rose to a 17-year high, records showed on Friday, as the coronavirus pandemic dealt a heavy blow to the businesses following months of social unrest.

There were 2,079 petitions presented last month, Official Receiver's Office said, the highest since May 2003.

The figure came as the city's unemployment rate rose to 5.9% in the March to May period, the highest in more than 15 years.

The number of compulsory winding-up filings stood at 68 in May, the highest since July 2009.
 

The total number of