June 14, 2021

Contests of creditors fall in the Canary Islands by 66.67% in January – La Provincia


Thecreditors contestshave fallen intoCanary Islands66.67% in January, up to a total of threeoperations-new in January 2019-, while thebusiness solutionshave risen 26.89%, to 151, compared to the same month of 2019. According to Informa D&B, in the set ofSpain, the competitions have increased by 18% in January, reaching 367 operations, and thesolutionsthey have fallen 10%, until 4,019.

Of the total contests presented in January in the country, about 80% corresponded tomicroenterprises, almost 18% to small businesses, just over 2% to medium-sized businesses and only a large company has enteredInsolvency proceedingsduring the month.

Catalonia, with 94 competitions, is the autonomy with more processes in January, followed by Madrid (62). Both are also the regions where the bankruptcy activity increases the most, adding 23 and 19, respectively. Comunidad Valenciana is the third most affected (55), with an increase of 6%.

On the contrary, the Canary Islands, Castilla-La Mancha, the Basque Country and Melilla have reduced their bankruptcy figures in January.
The solutions in January are headed by Madrid reaching 1,123, an increase of 11%. Comunidad Valenciana reaches 486, 2% more, and Andalusia to 445, cutting in this case 10% compared to January 2019. Together they represent more than half of the total processes declared this month.

The bankrupt companies had a turnover of 615 million euros, more than 312 million in the same month last year, and 3,471 employees, while those affected by the dissolutions accounted for sales of more than 1,700 million euros, 150 million less than in January 2019, and employed 10,481 people.

The most affected sectors were commerce and construction. The competitions affected 93 companies in the commerce sector, 25% of the national total, and 73 construction companies (20% of the total), with year-on-year growth of 7% and 38%, respectively.

Construction led the number of dissolutions, with 909 in the first month of the year, 4% more, while commerce was in second position with 817 operations, 6% less. Energy accounted for the largest decrease in absolute value, 548 fewer solutions, to 153.

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