Business failures - France 2018Dec

In November 2018, the number of corporate bankruptcies decreased by 0.9% year-on-year
  • At the end of November 2018, the aggregate number of corporate bankruptcies over the last 12 months amounted to 53,919 down 0.9% compared to November 2017 (see tables A and B and charts 1 and 2).
  • However, the downward trend is less marked than before: the number of bankruptcies decreased by 0.9% in November, while it decreased by 7.0% last May (see chart 2).
Over the past 12 months, corporate bankruptcies decreased in most business sectors
  • The agriculture, whole sale and retail trade, and information and communication sectors recorded the strongest decreases in bankruptcies over the past 12 months ( 8.0%, -3.3% and -3.1% respectively). Bankruptcies also decreased substantially in other sectors, particularly in the construction (-2.3%) and industry sectors ( 2.0%).
  • However, over the same period, corporate bankruptcies increased in the transportation and storage sector (+15.7%) and in the advisory and business support activities (+7.0%).
In November 2018, bankruptcies decreased for most firm sizes
  • Bankruptcies decreased for SMEs as a whole (-0.9%), despite an increase for Medium-sized firms (+11.4%). They decreased also for Intermediate-sized enterprises (ISEs) and Large firms (-6 bankruptcies over 12 months, see table B).
The outstanding loan amount of firms filing for bankruptcy over the past 12 months accounts, at the end of November, for more than 0.3% of the total outstanding loan amount reported to the Banque de France's Central Credit Register.

The aggregate number of corporate bankruptcies decreased by 1.2% at the end of December 2018, according to provisional data (see tables A and B and chart 2).
To find out more: data on business start-ups are reported by the French National Institute of Statistics and Economic Studies (INSEE): Business start-ups on the INSEE's website
A - Corporate bankruptcies by sector
Bankruptcies in number of legal units, year on year change (%)
Aggregate over the last 12 months (a) (gross data) Quater to quater sa/wda (bc) Monthly data sa / wda (c)
Nov- 2017 Nov- 2018 Nov- 2018/Nov- 2017 Dec. 18 prov. Dec- 18/Dec- 17 Nov- 2018 SEP- 2018 Oct- 2018 Nov- 2018
Business sector
Agriculture, forestry and fishing (AZ) 1,519 1,398 -8.0% 1,395 -8.8% -5.8% 128 124 87
Industry (BE) 3,912 3,832 -2.0% 3,882 0.0% 7.9% 336 409 278
Construction (FZ) 12,107 11,834 -2.3% 11,805 -2.5% -1.2% 1,069 1,024 948
Wholesale and retail trade; repair of motor vehicles and motorcycles (g) 11,998 11,597 -3.3% 11,546 -4.0% 0.3% 990 1,016 923
Transportation and storage (H) 1,770 2,048 15.7% 2,039 11.3% 4.8% 185 171 186
Accommodation and food service activities (I) 7,267 7,255 -0.2% 7,279 0.0% 2.2% 722 624 545
Information and communication (JZ) 1,366 1,323 -3.1% 1,294 -6.6% -4.7% 102 106 111
Financial and insurance activities (KZ) 1,059 1,059 0.0% 1,085 2.6% 1.1% 87 92 100
Real estate activities (LZ) 1,726 1,703 -1.3% 1,687 -2.2% -0.3% 141 141 119
Advisory & Business support activities (MN) 5,740 6,142 7.0% 6,135 6.4% -14.4% 497 507 506
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) 5,431 5,296 -2.5% 5,299 -2.3% -3.5% 503 436 383
All firms (d) 54,385 53,919 -0.9% 53,887 -1.2% -2.4% 4,785 4,673 4,218
Source: Banque de France - database: Fiben. Data available at end-January 2019
Calculation : Banque de France - Companies Directorate - Companies Observatory
a Aggregate number of corporate bankruptcies over the past 12 months compared to the same aggregate one year ago
b Aggregate number of corporate bankruptcies over the past 3 months compared to the same aggregate three months ago
c sa : seasonally adjusted - wda : working day adjusted
d 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) Quarter to quarter sa/wda (bc) Monthly data sa / wda (c)
Nov- 2017 Nov- 2018 Nov- 2018/Nov- 2017 DEC- 18 prov. DEC- 18/DEC- 17 Nov- 2018 SEP- 2018 Oct- 2018 Nov- 2018
Size
SME, among them 54,340 53,880 -0.8% 53,850 -1.1% -2.4% 4,784 4,665 4,219
Micro-enterprises and unknown firm's size 51,066 50,583 -0.9% 50,540 -1.3% -2.8% 4,503 4,400 3,929
Very small firms 2,050 2,046 -0.2% 2,066 2.5% 2.1% 179 173 158
Small firms 944 939 -0.5% 932 -3.0% 15.3% 78 82 91
Medium-size firms 280 312 11.4% 312 11.8% 8.3% 24 25 29
ISE - Large Firms 45 39 -13.3% 37 -19.6%
All firms 54,385 53,919 -0.9% 53,887 -1.2% -2.4% 4,785 4,673 4,218
Source: Banque de France - database: Fiben. Data available at end-January 2019
Calculation : Banque de France - Companies Directorate - Companies Observatory
a Aggregate number of corporate bankruptcies over the past 12 months compared to the same aggregate one year ago
b Aggregate number of corporate bankruptcies over the past 3 months compared to the same aggregate three months ago
c sa : seasonally adjusted - wda : working day adjusted

C - Changes in corporate bankruptcies
1 - Number of bankruptcies
Aggregate number of bankruptcies over the past 12 months
From Dec. 1991 to November 2018


2 - Change in bankruptcies
Year-on-year change in the 12-month aggregate
From Dec. 1991 to November 2018 (+ December 2018 provisional)
(in %)
3 - Loan amounts of bankrupt non-Financial
firms over loan amount of all firms
Aggregate over the past 12 months
From Dec. 2006 to November 2018 (+ December 2018 provisional)


(in %)
4 - Loan amounts of bankrupt non-financial firms over loan amount of all firms - broken down by firm size
Aggregate over the past 12 months
From Dec. 2006 to November 2018 (+ December 2018 provisional)

(in %)
Source: Banque de France, Companies Directorate, Data available at end-January 2019
More information on: methodology, time series, calendar
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STAT INFO - December 2018
Corporate bankruptcies in France
Contact: GPS.support@banque-france.fr

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Business failures - France
  • Published on 02/12/2019
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Published on Tuesday, February 12, 2019