The Influence of Global Crisis on Financial Liquidity and Changes in Corporate Debt of the Furniture Sector in Poland

This paper presents the analysis of one of the main objectives of flow and debt levels of furniture manufacturing companies in Poland. The analysis includes the average values of the selected financial ratios calculated for small, medium and large furniture manufacturing companies in 2007-2012, comparing them with the results for the entire manufacturing sector. The study results show that furniture manufacturing companies showed a higher ability to pay current liabilities with selected current assets and lower debt levels than industrial companies in general. In addition, the analytical results indicate that there are differences in the liquidity ratios of small, medium and large companies of the furniture industry. These companies also maintain different levels of debt. It should be emphasized that in 2009-2011 there was a negative trend - the liquidity decrease and the debt level increase. It mostly applied to companies of small and average level of employment.