Bankruptcies up slightly in Q3 2023, liquidations down sharply
According to the latest figures from the Ministry of Justice/STATEC, 162 companies were declared bankrupt and 30 were liquidated in the third quarter of 2023.
BANKRUPTCIES
The number of bankruptcies rises slightly in the third quarter of 2023 (162 compared with 157 judgements in the third quarter of 2022, i.e. +3%).
During the first nine months of 2023, the number of bankruptcies rose by 9% (710 compared with 650 judgements between January and September 2022). According to initial estimates, bankruptcies led to 1,943 wage job losses, compared with 1,297 during the same period in 2022, an increase of almost 50%. We have to go back to 2016 and earlier to find similar or even higher levels of job losses.
The retail sector suffered 141 bankruptcies in the first three quarters of 2023, 10 more than in the same period of 2022 (+8%), and around 250 salaried job losses (+57%).
There will be 117 bankruptcies in the construction sector, 43 more than in the same period of 2022 (+58%). Employee job losses are estimated at more than 700 (+41%), or around 36% of total employee job losses due to bankruptcies during the first 3 quarters of 2023.
There will be 80 bankruptcies in the hotel and catering sector, 15 more than in the same period in 2022 (+23%), resulting in the loss of some 300 salaried jobs (+78%).
Graph 1: Number of bankruptcies per month since January 2018
Liquidations
The number of liquidations fell sharply in the third quarter of 2023 (30 compared with 81 in the third quarter of 2022, i.e. -63%).
The number of liquidations also fell in the first 3 quarters of 2023 (-23%). More than 60% of the companies liquidated during the period under review were holding companies and investment funds.
Graph 2: Number of liquidations per month since January 2018
All these topics can be consulted in STATEC's "Bankruptcies and Liquidations" Dashboard, published on 18 October 2023. The statistics on bankruptcies are based on the register of judicial decisions, taken from the Trade Register and dating from 16 October 2023 for the most recent data.
The number of bankruptcies is calculated as the sum of "openings" or "reopenings" minus the bankruptcies reported from the judicial procedure "judgments and rulings declaring bankruptcy". These figures are provisional.
Contact
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Cette publication a été réalisée par Laurent Bley. Le STATEC tient à remercier tous les collaborateurs qui ont contribué à la réalisation de cette parution.
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