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Polish sports and recreation industry has PLN 112.5 million in arrears

Entrepreneurs running sports and recreational activities have PLN 112.5 million in arrears, according to the data of the BIG InfoMonitor Debtors Register and the BIK credit information database. Along with the lifting of some of the restrictions, the increase in the debts of the sports industry slowed down, but this does not apply to fitness clubs and gyms, which are in arrears of approx. PLN 23 million. According to the BIG InfoMonitor Debtors Register and the BIK credit information database, the debt of the sports, entertainment and recreation industry quickly exceeded PLN 110 million after the outbreak of the coronavirus. Over the course of five quarters, overdue liabilities to suppliers and banks increased by one fifth and amounted to PLN 112.5 million at the end of June. This differs from the changes among all companies, which at the same time increased their arrears by 12%. In other industries that were heavily affected by the pandemic, such as in gastronomy, arrears increased by 13.3%, to PLN 733.6 million, in tourism by 31.5%, to 106.7 million, in the beauty industry by 11.9 %, to PLN 96.4 million, and in transport by 9.6%, to PLN 2.25 billion, it was stated. The attitudes of customers certainly also have an impact on the financial situation of the recreation and sports industry. According to the study carried out for the BIG InfoMonitor Debtors Register, 18% of respondents declare a reduction in spending on sports activities due to the pandemic, and every sixth on hobbies related to sports. The allocation of the same funds for this purpose is mentioned by 22% and 34% of respondents, respectively, and 5% and 7% of respondents mention higher expenditure. Among the various types of sports, entertainment and recreational activities, the arrears of which amount to PLN 112.5 million, during the pandemic, the debts of companies related to entertainment decreased. In the case of sports companies, with the exception of sports clubs, there were only increases ranging from 22 % to 31% For example, in other activities related to sports, where producers and sponsors of sports events, individual athletes, referees or even mountain guides are classified, the amount of unpaid invoices and loan installments increased by over one fifth, to PLN 9.5 million. The liabilities of companies related to the operation of sports facilities, i.e. stadiums, swimming pools, sports halls, bowling lanes and the organization of sports events for professional or amateur sportsmen and women, which have not been settled, increased by 31% after the deadline. Currently, over PLN 37 million is waiting for repayment. In the case of fitness centers and clubs as well as other facilities for the improvement of physical condition and bodybuilding, some of whose representatives decided to file a lawsuit against the State Treasury, the arrears increased by 30%. They increased from PLN 17.4 million to PLN 22.7 million. In June, when the facilities were operational, there were another 180,000 jobs. zloty. The average arrears of one such company is now PLN 87.8 thousand, against PLN 74.6 thous before the pandemic. The Quality Watch survey carried out on June 18-21 using the CAWI method (computer assisted internet interview) among Poles aged 18+. Representativeness by: age, sex, size of the place of residence. Source: BIG InfoMonitor, BIK and ISBnews