Debt owed by Polish HoReCa and tourism companies has risen by almost 10% over the past year. The average debtor now has PLN 32,900 in overdue liabilities, 8.9% more than a year earlier. At the same time, payment reliability is deteriorating, with fewer HoReCa companies receiving high ratings.
The National Debt Register, KRD, currently lists 16,021 businesses from HoReCa and tourism with PLN 526.9 million in outstanding debt across 121,800 unpaid liabilities. A year earlier, average debt per company was PLN 30,200.
The number of indebted companies increased by only 114 over the year, while the number of unpaid obligations rose by nearly 11,000. The problem is therefore not primarily a surge in new debtors, but a deepening of financial difficulties among companies that were already behind on payments.
Restaurants account for almost 65% of the debt
Restaurants and other food-service outlets owe PLN 340.2 million, almost 65% of the sector’s total arrears. Hotels and similar accommodation businesses owe PLN 57 million, while catering and other food-service companies account for around PLN 49 million.
HoReCa as a whole is responsible for roughly PLN 499 million, while tour operators and travel intermediaries owe PLN 28.4 million.
Payment credibility is deteriorating
KRD’s payment credibility analysis shows that 57.7% of HoReCa businesses currently receive high ratings, down from 68.7% a year earlier. The share with medium ratings increased from 19.3% to 28.3%, while the lowest-rated group rose from 12% to 14%.
Tourism remains in better shape, although the trend is similar. High ratings fell to 85.3% from 92.1%, while the share of businesses with medium ratings rose from 3.3% to 9.1%.
“The number of indebted companies has changed little, but each of them now has more arrears on average than a year ago. At the same time, the number of businesses with high payment credibility is clearly falling. This is a signal that the financial problems of part of the industry are deepening,” says Adam Łącki, CEO of KRD.
Microbusinesses carry more than half of the burden
Sole traders account for the largest part of the arrears. Some 8,950 individual entrepreneurs owe PLN 278.8 million, more than half of the sector’s total debt. Commercial-law companies account for around PLN 248 million.
Financing patterns also suggest that liquidity has become a priority. Businesses are increasingly seeking external funds to cover current expenses rather than only financing equipment or investment purchases.
Small unpaid bills can be an early warning
The sector owes PLN 163.8 million to securitisation funds that acquired debts from original creditors and PLN 158.7 million to financial institutions. Energy companies are waiting for PLN 70 million, while food suppliers are owed PLN 28.3 million.
Payment operators and terminal providers are owed PLN 17.1 million across almost 22,000 unpaid obligations. The average bill in this category is only PLN 779, illustrating how liquidity problems can first become visible through many small overdue payments rather than one large default.
