The number of bankruptcies of companies continued to increase in October in France, but remains at a level well below that observed before the Covid-19 pandemic, according to data published this Wednesday by the Banque de France.
Between November 2021 and October 2022, the total number of breakdowns stood at 38,525, 41.4% more than the figures registered a year earlier.
In September, the Banque de France had identified nearly 37,300 failures in twelve months, an increase of 35.6% compared to the previous year.
“Its accumulation in 12 months at the end of October 2022 is still 24.7% lower than that registered in 2019 (51,145 breakdowns in all of 2019),” he specifies.
The accommodation and catering sector, especially affected
In detail, the number of accumulated insolvencies is the one that increases the most in the accommodation and catering sector (+82.8% in one year), while agriculture, forestry and fishing companies, on the contrary, experience fewer difficulties (+1.9% in one year).
Among the 38,525 bankruptcies registered between November 2021 and October 2022, the vast majority are micro-enterprises or companies of indeterminate size (almost 36,000). Some 1,600 VSEs and 950 SMEs were found to be in default.
In a study published on Tuesday, the National Council of Clerks of Commercial Courts had already reported a sharp increase in collective proceedings (liquidations, adjustments, safeguard procedures) in France since July 1.
Globally, the Allianz Trade insurer had predicted at the end of October a 10% increase in company bankruptcies in 2022 compared to 2021, and 19% in 2023 compared to the current year.
Source: BFM TV
