The summer served the Spanish economy as a springboard to propel itself towards recovery, but it did not prevent the bankruptcy of hundreds of companies that were dragged into the mud by Covid-19. Many of them could not even endure the pull until the vaccination progressed and were forced to declare themselves in competition. Thus, at the end of the third quarter, the courts registered 4,348 bankruptcy declarations, a figure 51% above that registered in the first nine months of last year, according to the subsidiary of Cesce, Informs D&B.
According to the same company, insolvency also shot up in September, with 11% more insolvencies compared to September 2020, adding 411 bankrupt companies. Although, as the Director of Studies at Informa D&B recalls, Nathalie gianese “This increase in the number of contests is not as high as expected, due to the moratorium established until December 31 to present them.”
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General Council of Administrative Managers that in its latest barometer it figures at 130,000 the number of companies in a situation of technical bankruptcy that do not enter into bankruptcy due to the containment of the bankruptcy moratorium. Until the end of the year, while waiting for the Government to approve a new extension of the mechanism, only voluntary tenders may continue to be presented. Some contests that continue to increase in their ‘express’ mode, as Gianese recalls, “which increased by 70% in September.”
In September, it was Catalonia the community that registered the most bankruptcies by adding 95, 23% more than in 2020. A figure that further entrenchs it as the region that has accumulated the most companies in bankruptcy from January to September, with a total of 1,212, about 70 % more compared to the first three quarters of last year. A number that becomes more voluminous when compared to its immediate competitor, Madrid, which accumulates 881, although it also grows in contests by 57%. For its part, the third region by demography, Andalusia, accumulates 344. In any case, we must take into account the administrative stoppage caused by confinements due to the pandemic in the second quarter of last year, which increases this rise. In fact, all the autonomous regions have increased the number of contests since the beginning of the year, except Cantabria, which cuts 4, and Melilla, with 1.
By sectors, Commerce, with 880, and Construction and real estate activities, with 797 They are the most punished in absolute values, although Hospitality, with 717 tenders presented, is the sector most burdened compared to 2020, with an advance of close to 200% despite the push of the summer season.
On the other hand, dissolutions of companies have been reduced, although they add up to more than 20,000 so far this year. The ranking leads Madrid, with 5,578, 28% of the total. They are followed by Andalusia and Valencia, with 2,726 and 2,410 respectively. The rise for Madrid is 16% and for the other two the growth reaches 25% and 33% respectively. In September, the same communities were the ones that reached the most processes: 369 for Madrid, 204 in Andalusia and 198 in Valencia.
Dissolutions increased in all sectors in the annual accumulated except in Energy, which decreased by 16%. Construction and real estate activities, with 4,787, and Commerce, with 3,926, they are the first Together with the 3,319 of Business Services they account for about 60% of the national total. The same sectors are the ones that registered the most processes in September, 336, 304 and 238 respectively.