Financial restructuring as a constructive stage of bankruptcy

While operating any enterprise can face unforeseen situations involving financial difficulties. If no timely measures for financial restructuring are taken, such unconcern will result in bankruptcy. Though in 2016 it was a decline in registered bankruptcies, the upcoming period is not going to reach the pre-crisis level due to some restrictive drivers (drop in actual consumer demand, investment activity and etc.) Nevertheless, the Central bank policy accompanied by mild policy of commercial banks together with the targeted budgetary policy of Ulyanovsk region enabled the region to maintain a relatively low bankruptcy rate compared to the national average level. Regional microfinancing institutions rendering support to financially squeezed enterprises provide for acquiring credit resources subsidized by different level budgets. Consequently, financial restructuring of the enterprises in Ulyanovsk region proves to be a constructive stage of bankruptcy during the crisis period.