Crédito y Caución expects global insolvencies to increase by 33% in 2022. According to the latest report released by the credit insurer, the still low level of corporate bankruptcies this year is due to the extension of fiscal measures in many countries and the continuation of moratoria on the application of bankruptcy legislation. Contrary to initial fears when the pandemic broke out, corporate insolvencies fell by 14% in 2020. France,…
T.C. | In Spain, 2,086 companies declared insolvency between January and April this year, an increase of 71% compared to 1,217 a year earlier, according to data published in the Official State Gazette and analysed by Iberinform. The strongest growth was in April, when 552 insolvencies were declared, compared to 41 in April last year, when the legal moratorium and confinement began, exempting administrators from filing for insolvency proceedings. The…
Crédito y Caución (Atradius) | The widely anticipated rise of business insolvencies did not occur in 2020. Global insolvencies are estimated to have declined by 14% in 2020. This is likely to be followed by a 26% rise of insolvencies in 2021. The increase is expected to take place in all major regions and countries, except Turkey. This upward trend is not surprising, as we expect that the temporary measures that kept insolvencies unusually low in 2020 (insolvency law amendments, fiscal support) are gradually phased out in 2021. The level of bankruptcies at the end of 2021 will be higher in virtually all markets than it was in 2019.
In Spain, the increase foreseen by Crédito y Caución reaches 30%, due to the sectorial composition of the economy. The credit insurance company forecasts an increase of 26% in corporate insolvencies worldwide, which will largely materialize during the second half of 2020.