Business failures - France 2019Jan

In 2018, the number of corporate bankruptcies decreased by 1.0%
  • At the end of December 2018, the aggregate number of corporate bankruptcies over the last 12 months amounted to 53,982 down 1.0% compared to December 2017 (see tables A and B and charts 1 and 2).
  • However, the decline in the number of bankruptcies is less pronounced than in 2017 (-5.8%) and 2016 (-8.0%).
The evolution of corporate bankruptcies varies across sectors
  • In 2018, the agriculture, information and communication, and wholesale and retail trade sectors recorded the strongest decreases in bankruptcies (8.2%, -6.4% and -3.9%, respectively). Bankruptcies decreased substantially in other sectors, particularly in the construction sector (-2.5%).
  • However, over the same period, corporate bankruptcies increased in some sectors, in particular in the transportation and storage sector (+11.5%) and in the advisory and business support activities (+6.5%).
  • The number of corporate bankruptcies remains stable in the industry (+0.0%) and in the accommodation and food service activities (+0.1%).
In 2018, bankruptcies decreased for most firm sizes
  • Bankruptcies decreased for SMEs as a whole (-1.0%), despite an increase for Very small firms (+2.5%) and the Medium-sized firms (+11.4%). They decreased also for Intermediate-sized enterprises (ISEs) and Large firms ( -7 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 December, 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 increased by 0.4% at the end of January 2019, 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)
Dec. 17 Dec. 18 Dec. 18/
Dec. 17
Jan. 19 prov. Jan. 19/
Jan. 18
Dec. 18 Oct. 18 Nov. 18 Dec. 18
Business sector
Agriculture, forestry and fishing (AZ) 1,532 1,406 -8.2% 1,406 -6.5% -8.3% 123 88 134
Industry (BE) 3,885 3,886 0.0% 3,886 1.0% 9.1% 407 277 374
Construction (FZ) 12,112 11,815 -2.5% 11,844 -1.8% -4.3% 1,026 951 1,024
Wholesale and retail trade; repair of motor vehicles and motorcycles (g) 12,030 11,555 -3.9% 11,645 -1.8% 0.9% 1,017 923 1,020
Transportation and storage (H) 1,831 2,042 11.5% 2,059 12.5% -0.5% 171 186 173
Accommodation and food service activities (I) 7,278 7,285 0.1% 7,365 2.0% -6.3% 624 546 653
Information and communication (JZ) 1,384 1,295 -6.4% 1,310 -3.6% 2.3% 105 112 113
Financial and insurance activities (KZ) 1,055 1,085 2.8% 1,099 6.4% 8.2% 91 99 105
Real estate activities (LZ) 1,724 1,692 -1.9% 1,686 -1.5% -2.8% 141 119 141
Advisory & Business support activities (MN) 5,770 6,147 6.5% 6,121 6.5% -15.1% 507 504 514
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) 5,424 5,333 -1.7% 5,374 -0.2% -6.4% 438 394 476
All firms (d) 54,518 53,982 -1.0% 54,233 0.4% -5.0% 4,676 4,253 4,585
Source: Banque de France - database: Fiben. Data available at end-February 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)
Dec. 17 Dec. 18 Dec. 18/
Dec. 17
Jan. 19 prov. Jan. 19/
Jan. 18
Dec. 18 Oct. 18 Nov. 18 Dec. 18
Size
SME, among them 54,472 53,943 -1.0% 54,192 0.4% -5.0% 4,667 4,255 4,582
Micro-enterprises and unknown firm's size 51,215 50,627 -1.1% 50,838 0.1% -5.5% 4,402 3,964 4,293
Very small firms 2,016 2,067 2.5% 2,066 1.9% 0.2% 173 159 181
Small firms 961 937 -2.5% 965 4.3% 7.9% 83 93 76
Medium-size firms 280 312 11.4% 323 15.4% 15.0% 26 31 27
ISE - Large Firms 46 39 -15.2% 41 -8.9%
All firms 54,518 53,982 -1.0% 54,233 0.4% -5.0% 4,676 4,253 4,585
Source: Banque de France - database: Fiben. Data available at end- February 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 December 2018

2 - Change in bankruptcies
Year-on-year change in the 12-month aggregate
From Dec. 1991 to December 2018 (+ January 2019 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 December 2018 (+ January 2019 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 December 2018 (+ January 2019 provisional)
(in %)
Source: Banque de France, Companies Directorate, Data available at end-February 2019
More information on: methodology, time series, calendar
All the series published by the Banque de France are available at the following address
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Corporate bankruptcies
STAT INFO - January 2019
Contact: GPS.support@banque-france.fr

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Business failures - France
  • Published on 03/12/2019
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Published on Tuesday, March 12, 2019