Informa D&B | A total of 6,268 insolvency proceedings and 20,731 dissolutions have been registered in Spain in the three quarters to September 2024, according to data on insolvency proceedings and dissolutions extracted by Informa D&B (a subsidiary of Cesce), a leading provider of Commercial, Financial, Sectorial and Marketing Information. Bankruptcy proceedings are up 26% compared to those accumulated in the same nine months in 2023, while dissolutions are down 2.5%.
If we take into account the different types of existing procedures, insolvency proceedings have been the most used, reaching 5,006 since January, an increase of 12%, 80% of the total. Special procedures for micro-companies are the ones that have grown the most, by 323%, reaching 1,007 and restructuring plans have been cut by 4% to 255.
In September, insolvency proceedings rose by 15% compared with the same month in 2023, to 674. Of these, 531 were insolvency proceedings, 116 special proceedings and 27 restructuring plans.
Dissolutions are also up this month, by 16% to 1,632, and although they are up on August, they are the second lowest figure of the year.
Nathalie Gianese, Director of Research at Informa D&B comments: ‘To date, 6,268 insolvency proceedings have been registered, with special proceedings for SMEs growing the most compared to the previous year, totalling 769’.
Micro-companies accounted for most of the insolvency proceedings recorded in September, just over 84%, small companies over 13%, medium-sized companies 2% and two large companies have initiated insolvency proceedings this month. In terms of restructuring plans, micro-companies represent 52% of the total this month, small companies account for 22%, as do medium-sized companies, and there is only one large company.
Aragon, Valencia and La Rioja are the only regions where insolvency proceedings have fallen.
The figures for insolvency proceedings since January are led by Catalonia, with 1,486, Madrid, with 653, and Valencia with 635. Catalonia and Andalusia are the regions with the highest absolute numbers, 178 and 108 each. The figures are reduced only in Aragon, 29%, Valencia, 7%, and La Rioja, 41%.
Madrid concentrates 40% of the special procedures for micro-companies, 399, and leads the restructuring plans, with 53, an increase of 6% compared to the first nine months of 2023.
