The number of insolvencies increases after the end of the moratorium approved to mitigate the effects of Covid-19. Insolvency proceedings soared to 45% in August, according to Axesor. During the eighth month of the year, 229 insolvencies were declared, 44.94% more than in the same month of 2021. Thus, in the cumulative figure for the year the number of proceedings totals 3,845, up 3.39% year-on-year, according to Axesor’s Business Radar of Insolvency Proceedings and Company Creation and Dissolutions.
After agriculture, which recorded a relative increase of 136.36%, transport and storage and commerce are the sectors where insolvency proceedings grew the most, by 27.34% and 17.39%, respectively, figures that may be indicative of the slowdown in domestic demand as a result of the loss of purchasing power caused by the inflationary spiral.
Measured in absolute terms, trade and construction, with 1,418 insolvencies, accounted for 36.88% of the total. This was followed by the manufacturing industry with 450, representing 11.7% of the total.
On the other hand, the case of the hotel and catering industry stands out. 421 insolvencies have been declared up to August, 27.04% less than during the first eight months of last year.
