According to the Spanish Confederation of Small and Medium Enterprises (Cepyme), throughout the year, between the first and third quarters, there have been 7,182 bankruptcies of SMEs and individuals with economic activity, which is 26% more than during the same period in 2023. Additionally, the confederation highlights that “this is the highest figure in the last 15 years for the first nine months of the year.” Of those bankruptcies, 7,064…
Last October ended with more than 905 companies in insolvency, the highest figure in the entire series since the reform of the Bankruptcy Law came into effect in September 2022. This brings the country to accumulate 5,911 bankruptcy petitions so far this year, nearly the same number in ten months as all those recorded in 2021, when the economy was still struggling to recover from the Covid-19 pandemic. There are…
Informa D&B| In the first two months of 2024, 1,516 insolvency proceedings and 7,871 dissolutions have been registered in Spain, according to data on insolvency proceedings extracted by INFORMA D&B S.A.U. (S.M.E.), a subsidiary of Cesce. These figures represent an increase of 48% for insolvency proceedings, while dissolutions decreased by 1%. The companies in insolvency proceedings in February had sales of around €666 million and employed 5,300 people. Most of…
The CEOE employers’ association has detected that “unfortunately, a significant destruction of the business fabric is taking place”. This is a deterioration “that translates into the loss of 17,300 self-employed, since the beginning of the year, and the closure of 16,764 companies in the month of January alone”, according to the newspaper Expansión. Thus, between the different types of companies and businesses, 34,000 enterprises have been destroyed so far this…
J.C. González Vázquez * | On August 3rd, the Council of Ministers finally approved the long-awaited Bill for the adaptation of our insolvency legislation to EU Directive 2019/1023 regarding preventive restructuring frameworks, discharge of debt and disqualifications. In addition, measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt. Great hopes had been placed on it because it was thought that it would help to save…
Fernando Barciela | Throughout this current year, 99 companies across the world have defaulted, the second highest figure in the decade after the 2009 crisis, according to S&P. Spanish firm Abengoa could be added to the list.