In August 2018, the number of corporate bankruptcies decreased by 4.1% year-on-year
- At the end of August 2018, the aggregate number of corporate bankruptcies over the last 12 months amounted to 53,323 down 4.1% compared to August 2017 (see tables A and B and charts 1 and 2).
- However, the aggregate number of bankruptcies over the past 3 months increases by 4.9% compared to the same aggregate 3 months ago.
Over the past 12 months, corporate bankruptcies decreased in most business sectors
- The agriculture, industry and construction sectors recorded the strongest decreases in bankruptcies over the past 12 months ( 9.2%, -7.0% and -6.0%, respectively). Bankruptcies also decreased substantially in other sectors, particularly in real estate activities (-5.8%).
- However, over the same period, corporate bankruptcies increased in the transportation and storage sector (+7.6%) and, to a lesser extent, in the advisory and business support activities (+0.9%).
In August 2018, bankruptcies decreased for all firm sizes
- Bankruptcies decreased by 4.1% for SMEs and by 6.7% for Intermediate-sized enterprises (ISEs) and large firms (see table B).
The outstanding loan amount of firms filing for bankruptcy over the past 12 months accounts, at the end of August, for nearly 0.35% of the total outstanding loan amount reported to the Banque de France's Central Credit Register.
The aggregate number of corporate bankruptcies decreased by 2.8% at the end of September 2018, according to provisional data (see tables A and B and chart 2).
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) |
|
|
Aug-2017 |
Aug-2018 |
Aug. 18/Aug. 17 |
Sep. 18 prov. |
Sep. 18/Sep. 17 |
Aug-2018 |
June 18 |
July 18 |
Aug-2018 |
Business sector |
|
|
|
|
|
|
|
|
|
Agriculture, forestry and fishing (AZ) |
1,561 |
1,418 |
-9.2% |
1,411 |
-8.3% |
-1.5% |
105 |
119 |
123 |
Industry (BE) |
3,996 |
3,715 |
-7.0% |
3,721 |
-5.8% |
1.6% |
314 |
301 |
328 |
Construction (FZ) |
12,454 |
11,709 |
-6.0% |
11,736 |
-4.6% |
8.8% |
1,004 |
997 |
1,069 |
Wholesale and retail trade; repair of motor vehicles and motorcycles (g) |
12,210 |
11,525 |
-5.6% |
11,498 |
-4.9% |
0.2% |
974 |
944 |
1,000 |
Transportation and storage (H) |
1,800 |
1,937 |
7.6% |
1,953 |
7.9% |
5.1% |
167 |
185 |
160 |
Accommodation and food service activities (I) |
7,318 |
7,173 |
-2.0% |
7,264 |
0.5% |
2.0% |
631 |
595 |
639 |
Information and communication (JZ) |
1,377 |
1,342 |
-2.5% |
1,314 |
-4.4% |
0.4% |
115 |
113 |
110 |
Financial and insurance activities (KZ) |
1,076 |
1,059 |
-1.6% |
1,047 |
-2.6% |
-0.7% |
90 |
96 |
89 |
Real estate activities (LZ) |
1,834 |
1,728 |
-5.8% |
1,723 |
-4.2% |
-11.8% |
130 |
126 |
144 |
Advisory & Business support activities (MN) |
5,948 |
6,000 |
0.9% |
6,023 |
3.5% |
26.1% |
471 |
483 |
815 |
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) |
5,526 |
5,270 |
-4.6% |
5,295 |
-3.2% |
3.8% |
476 |
438 |
458 |
All firms (d) |
55,604 |
53,323 |
-4.1% |
53,406 |
-2.8% |
4.9% |
4,556 |
4,445 |
4,916 |
Source: Banque de France - database: Fiben. Data available at end-October 2018
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 datat) |
Quarter to quarter sa/wda (bc) |
Monthly data sa / wda (c) |
|
|
Aug. 17 |
Aug. 18 |
Aug. 18/Aug. 17 |
Sep. 18 prov. |
Sep. 18/Sep. 17 |
Aug. 18 |
June 18 |
July 18 |
Aug. 18 |
Size |
|
|
|
|
|
|
|
|
|
SME, among them |
55,559 |
53,281 |
-4.1% |
53,368 |
-2.8% |
5.0% |
4,554 |
4,443 |
4,915 |
Micro-enterprises and unknown firm's size |
52,347 |
50,277 |
-4.0% |
50,393 |
-2.6% |
5.2% |
4,315 |
4,177 |
4,660 |
Very small firms |
1,988 |
1,846 |
-7.1% |
1,838 |
-6.1% |
6.7% |
157 |
159 |
155 |
Small firms |
920 |
869 |
-5.5% |
852 |
-8.3% |
-9.8% |
47 |
79 |
74 |
Medium-size firms |
304 |
289 |
-4.9% |
285 |
-5.0% |
-13.2% |
22 |
21 |
24 |
ISE - Large Firms |
45 |
42 |
-6.7% |
38 |
-11.6% |
|
|
|
|
All firms |
55,604 |
53,323 |
-4.1% |
53,406 |
-2.8% |
4.9% |
4,556 |
4,445 |
4,916 |
Source: Banque de France - database: Fiben. Data available at end-October 2018
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 August 2018
2 - Change in bankruptcies
Year-on-year change in the 12-month aggregate
From Dec. 1991 to August 2018 (+ September 2018 provisional)(in %)
3 - Loan amounts of bankrupt non-Financial
firms over loan amount of all firmsAggregate over the past 12 months
From Dec. 2006 to August 2018 (+ September 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 August 2018 (+ September 2018 provisional)
(in %)
Source: Banque de France, Companies Directorate, Data available at end-October 2018
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Business failures - France
Published on Friday, November 9, 2018