Business failures - France 2019Mar

In February 2019, the number of corporate bankruptcies increased by 1.1% year-on-year
  • At the end of February 2019, the aggregate number of corporate bankruptcies over the last 12 months amounted to 54,344, up by 1.1% compared to February 2018 (see tables A and B and charts 1 and 2).
  • The aggregate number of bankruptcies over the past 3 months decreased by 1.3% compared to the same aggregate 3 months ago.
Over the past 12 months, the evolution of corporate bankruptcies varies across sectors
  • The transportation sector, the financial and insurance activities, and the advisory and business support activities recorded the strongest increases in bankruptcies (+12.5%, +7.9% and +7.1% respectively, compared to February 2018). Bankruptcies also increased substantially in other sectors, particularly in the accommodation and food service activities (+4.2%), and in the industry (+2.5%).
  • However, over the same period, corporate bankruptcies decreased in some sectors, in particular in the agriculture (-5.4%), information and communication (-5.3%), construction (-1.7%) and wholesale and retail trade (-1.4%) sectors.
In February 2019, bankruptcies increased essentially for SMEs
  • Bankruptcies increased for SMEs as a whole (+1.1%), despite a decrease for Very small firms (-3.3%). They also decreased for Intermediate-sized enterprises (ISEs) and Large firms (-12 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 February, 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 1.7% at the end of March 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)
Feb- 18 Feb- 19 Feb- 19/
Feb- 18
Mar-19 prov. Mar-19/
Mar-18
Feb- 19 Dec- 18 Jan- 19 Feb- 19
Business sector
Agriculture, forestry and fishing (AZ) 1,505 1,423 -5.4% 1,395 -4.7% 7.6% 134 114 120
Industry (BE) 3,809 3,905 2.5% 3,824 0.6% -1.7% 380 312 312
Construction (FZ) 11,952 11,753 -1.7% 11,710 -0.1% -6.3% 1,017 1,001 829
Wholesale and retail trade; repair of motor vehicles and motorcycles (g) 11,786 11,618 -1.4% 11,506 -1.1% -1.5% 1,004 962 921
Transportation and storage (H) 1,859 2,091 12.5% 2,096 13.1% 0.8% 176 177 193
Accommodation and food service activities (I) 7,109 7,408 4.2% 7,351 3.9% 0.1% 647 642 593
Information and communication (JZ) 1,370 1,298 -5.3% 1,281 -5.2% 0.3% 112 103 101
Financial and insurance activities (KZ) 1,027 1,108 7.9% 1,121 12.2% 5.3% 104 94 90
Real estate activities (LZ) 1,732 1,674 -3.3% 1,642 -5.4% 3.9% 141 143 136
Advisory & Business support activities (MN) 5,749 6,160 7.1% 6,233 9.4% -0.3% 519 477 505
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) 5,369 5,471 1.9% 5,435 2.3% 8.7% 484 482 485
All firms (d) 53,748 54,344 1.1% 54,013 1.7% -1.3% 4,604 4,580 4,339
Source: Banque de France - database: Fiben. Data available at end-April 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)
Feb- 18 Feb- 19 Feb- 19/
Feb- 18
Mar-19 prov. Mar-19/
Mar-18
Feb- 19 Dec- 18 Jan- 19 Feb- 19
Size
SME, among them 53,699 54,307 1.1% 53,974 1.7% -1.3% 4,601 4,576 4,337
Micro-enterprises and unknown firm's size 50,394 51,014 1.2% 50,715 1.9% -1.3% 4,312 4,276 4,093
Very small firms 2,076 2,008 -3.3% 1,987 -3.7% 0.5% 182 174 156
Small firms 938 970 3.4% 974 5.5% -0.5% 75 102 76
Medium-size firms 291 315 8.2% 298 1.0% 9.4% 26 37 21
ISE - Large Firms 49 37 -24.5% 39 -20.4%
All firms 53,748 54,344 1.1% 54,013 1.7% -1.3% 4,604 4,580 4,339
Source: Banque de France - database: Fiben. Data available at end- April 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 February 2019

2 - Change in bankruptcies
Year-on-year change in the 12-month aggregate
From Dec. 1991 to February 2019 (+ March 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 February 2019 (+ March 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 February 2019 (+ March 2019 provisional)
(in %)
Source: Banque de France, Companies Directorate, Data available at end-April 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 - March 2019
Contact: GPS.support@banque-france.fr

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Business failures - France
  • Published on 05/14/2019
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Published on Tuesday, May 14, 2019