Business failures - France 2022May
Published on 20 June 2022
The number of corporate bankruptcies remains low around 32,000 over the last 12 months
- By the end of May 2022, the number of corporate bankruptcies over one year (between June 2021 and May 2022) is 32,109. This is 37.2 % 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).
- 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 May, the number of corporate bankruptcies stays around 3,000, in line with the previous months on 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) (gross data) | ||||||||
| 2019 | Apr. 21 | Apr. 22 | Apr. 22/Apr. 21 | Apr. 22/2019 | May 22 prov. | May 22/May 21 | May. 22/2019 | |
| Business sector | ||||||||
| Agriculture, forestry and fishing (AZ) | 1,414 | 1,034 | 1,080 | 4.4% | -23.6% | 1,050 | -3.6% | -25.7% |
| Industry (BE) | 3,434 | 1,852 | 2,149 | 16.0% | -37.4% | 2,201 | 15.4% | -35.9% |
| Construction (FZ) | 11,089 | 5,696 | 6,572 | 15.4% | -40.7% | 6,687 | 12.9% | -39.7% |
| Wholesale and retail trade; repair of motor vehicles and motorcycles (G) | 11,135 | 6,143 | 6,843 | 11.4% | -38.5% | 7,097 | 14.3% | -36.3% |
| Transportation and storage (H) | 2,097 | 1,110 | 1,384 | 24.7% | -34.0% | 1,409 | 23.2% | -32.8% |
| Accommodation and food service activities (I) | 6,840 | 3,504 | 3,436 | -1.9% | -49.8% | 3,612 | 3.1% | -47.2% |
| Information and communication (JZ) | 1,277 | 842 | 943 | 12.0% | -26.2% | 965 | 12.5% | -24.4% |
| Financial and insurance activities (KZ) | 1,088 | 666 | 737 | 10.7% | -32.3% | 757 | 12.8% | -30.4% |
| Real estate activities (LZ) | 1,631 | 1,235 | 1,230 | -0.4% | -24.6% | 1,195 | -6.7% | -26.7% |
| Advisory & Business support activities (MN) | 5,813 | 3,682 | 3,966 | 7.7% | -31.8% | 4,031 | 6.7% | -30.7% |
| Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) | 5,140 | 2,955 | 2,952 | -0.1% | -42.6% | 3,029 | 2.4% | -41.1% |
| All firms (b) | 51,145 | 28,803 | 31,363 | 8.9% | -38.7% | 32,109 | 9.2% | -37.2% |
Source: Banque de France - database: Fiben. Data available in early June 2022: final for April, provisional for May.
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
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) (gross data) | ||||||||
| 2019 | Apr. 21 | Apr. 22 | Apr. 22/Apr. 21 | Apr. 22/2019 | May 22 prov. | May 22/May 21 | May. 22/2019 | |
| Size | ||||||||
| SME, among them | 51,121 | 28,753 | 31,343 | 9.0% | -38.7% | 32,087 | 9.3% | -37.2% |
| Micro-enterprises and unknown firm's size | 48,812 | 27,157 | 29,453 | 8.5% | -39.7% | 30,128 | 8.6% | -38.3% |
| Very small firms | 1,436 | 944 | 1,220 | 29.2% | -15.0% | 1,247 | 29.2% | -13.2% |
| Small firms | 625 | 464 | 496 | 6.9% | -20.6% | 521 | 9.9% | -16.6% |
| Medium-size firms | 248 | 188 | 174 | -7.4% | -29.8% | 191 | 8.5% | -23.0% |
| ISE - Large Firms | 24 | 50 | 20 | -60.0% | -16.7% | 22 | -48.8% | -8.3% |
| All firms | 51,145 | 28,803 | 31,363 | 8.9% | -38.7% | 32,109 | 9.2% | -37.2% |
Source: Banque de France - database: Fiben. Data available in early June 2022: final for April, provisional for May.
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).
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 April 2022 (+ May 2022 provisional)
Cumulated over previous 12 months
From Dec. 1991 to April 2022 (+ May 2022 provisional)
2 - Change in number of bankruptcies
Annual year-on-year change
From Dec. 1991 to April 2022 (+ May 2022 provisional)
(in %)
Annual year-on-year change
From Dec. 1991 to April 2022 (+ May 2022 provisional)
(in %)
3 - Monthly number of bankruptcies
From Jan. 2019 to April 2022 (+ May 2022 provisional)
From Jan. 2019 to April 2022 (+ May 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 April 2022 (+ May 2022 provisional)
(in %)
Cumulated over previous 12 months
From Dec. 2006 to April 2022 (+ May 2022 provisional)
(in %)
Source: Banque de France - database: Fiben. Data available in early June 2022: final for April, provisional for May.
Download the PDF version of the document
DEF_ENT_2254_en__SI_defaillances_202205_EN.pdf