Business failures - France 2022Jun

Published on 8 July 2022

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Halfway through the year, the number of corporate bankruptcies remains low, close to 33,000 over the last 12 months
  • By the end of June 2022, the number of corporate bankruptcies over one year (between July 2021 and June 2022) is 33,155. This is 35.2 % lower than the cumulative number of bankruptcies recorded during the year 2019, before the COVID-19 crisis (see Figure 1, as well as Tables A and B).

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  • Interpreting the variation with respect to the cumulative number of bankruptcies recorded during the COVID-19 crisis calls for caution, since during that period the number of corporate bankruptcies was particularly low, due to the temporary closure of commercial courts, the adoption of regulations temporarily granting additional time to both assess and report insolvency, and, later, the cash support measures to avoid the occurrence of insolvency.

  • During the month of June, the number of corporate bankruptcies is just above 3,000, in line with the previous months of this year (see Figure 3).
To find out more: data on business start-ups are reported by the French National Institute of Statistics and Economic Studies (INSEE): https://www.insee.fr/en/statistiques/6445954
A - Corporate bankruptcies by sector
Bankruptcies in number of legal units, year on year change (%)
Aggregate over the last 12 months (a) (raw data)
2019 May 21 May 22 May 22/May 21 May 22/2019 June 22 prov. June 22/June 21 June 22/2019
Business sector
Agriculture, forestry and fishing (AZ) 1,414 1,087 1,095 0.7% -22.6% 1,039 -6.1% -26.5%
Industry (BE) 3,434 1,906 2,214 16.2% -35.5% 2,304 23.4% -32.9%
Construction (FZ) 11,089 5,927 6,715 13.3% -39.4% 6,877 16.6% -38.0%
Wholesale and retail trade; repair of motor vehicles and motorcycles (G) 11,135 6,207 7,112 14.6% -36.1% 7,290 18.5% -34.5%
Transportation and storage (H) 2,097 1,144 1,415 23.7% -32.5% 1,467 27.9% -30.0%
Accommodation and food service activities (I) 6,840 3,505 3,631 3.6% -46.9% 3,827 17.3% -44.0%
Information and communication (JZ) 1,277 858 968 12.8% -24.2% 1,006 17.0% -21.2%
Financial and insurance activities (KZ) 1,088 671 760 13.3% -30.1% 759 12.3% -30.2%
Real estate activities (LZ) 1,631 1,278 1,222 -4.4% -25.1% 1,163 -11.4% -28.7%
Advisory & Business support activities (MN) 5,813 3,775 4,050 7.3% -30.3% 4,169 10.9% -28.3%
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) 5,140 2,959 3,078 4.0% -40.1% 3,182 12.7% -38.1%
All firms (b) 51,145 29,401 32,336 10.0% -36.8% 33,155 14.6% -35.2%
Source: Banque de France - database: Fiben. Data available in early July 2022: final for May, provisional for June.
Calculation : Banque de France - Companies Directorate - Companies Observatory
a Aggregate number of corporate bankruptcies over the previous 12 months compared to the same aggregate one year before and in 2019 (January to December 2019).
b The line « All firms » includes legal units whose business sector is not known
B - Corporate bankruptcies by firm size
Bankruptcies in number of legal units, year on year change (%)
Aggregate over the last 12 months (a) (raw data)
2019 May 21 May 22 May 22/May 21 May 22/2019 June 22 prov. June 22/June 21 June 22/2019
Size
SME, among them 51,121 29,358 32,314 10.1% -36.8% 33,134 14.7% -35.2%
Micro-enterprises and unknown firm's size 48,812 27,746 30,341 9.4% -37.8% 31,083 13.8% -36.3%
Very small firms 1,436 965 1,257 30.3% -12.5% 1,292 33.5% -10.0%
Small firms 625 471 523 11.0% -16.3% 563 25.7% -9.9%
Medium-size firms 248 176 193 9.7% -22.2% 196 14.6% -21.0%
ISE - Large Firms 24 43 22 -48.8% -8.3% 21 -47.5% -12.5%
All firms 51,145 29,401 32,336 10.0% -36.8% 33,155 14.6% -35.2%
Source: Banque de France - database: Fiben. Data available in early July 2022: final for May, provisional for June.
Calculation : Banque de France - Companies Directorate - Companies Observatory.
a Aggregate number of corporate bankruptcies over the previous 12 months compared to the same aggregate one year before and in 2019 (January to December 2019).
C - Changes in corporate bankruptcies
1 - Number of bankruptcies
Cumulated over previous 12 months
From Dec. 1991 to May 2022 (+ June 2022 provisional)
2 - Change in number of bankruptcies
Annual year-on-year change
From Dec. 1991 to May 2022 (+ June 2022 provisional)
(in %)
3 - Monthly number of bankruptcies
From Jan. 2019 to May 2022 (+ June 2022 provisional)
4 - Loan amounts of bankrupt non-financial firms over loan amount of all firms - by firm size
Cumulated over previous 12 months
From Dec. 2006 to May 2022 (+ June 2022 provisional)
(in %)
Source: Banque de France - database: Fiben. Data available in early July 2022: final for May, provisional for June.
More information on: methodology, time series, calendar
All the series published by the Banque de France are available at the following address Webstat Banque de France
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Corporate bankruptcies
STAT INFO - June 2022
Contact: GPS.support@banque-france.fr
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Updated on 8 July 2022