Warsaw  - Bankruptcies in Poland rose 11 per cent in the first quarter of 2009 compared to the same period last year, the daily Rzeczpospolita reported Monday.

Some 100 companies declared bankruptcy in the first quarter of the year, it cited a study by credit insurer Euler Hermes as saying. The number was expected to rise as the trend spreads from urban centres.

"Many companies were created for the time of economic prosperity," analyst Andrzej Sadowski told the daily. "They didn't prove themselves in hard conditions."

Manufacturing companies have been hardest-hit and make up 31 per cent of all bankruptcies.

Most bankruptcies were declared in Warsaw's province and the coal- rich Silesia district. The regions are dominated by exporters, who have most felt the effect of the global financial crisis. (dpa)