Business failures - France 2022Sep
Published on the 11th of October 2022
At the end of September, the number of corporate bankruptcies remains one fourth below its level before Covid
- The number of corporate bankruptcies over one year (between October 2021 and September 2022) reaches 37,000. This is 27.7 % 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 over one year until September 2022 with respect to the previous one calls for caution. Indeed, the number of corporate bankruptcies in 2021 was particularly low, due to cash support measures that were still in place and that helped fragile companies to avoid the occurrence of insolvency.
To find out more: data on business start-ups are reported by the French National Institute of Statistics and Economic Studies (INSEE): Business births 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) (raw data) | ||||||||
| 2019 | Aug. 21 | Aug. 22 | Aug. 22/Aug. 21 | Aug. 22/2019 | Sep. 22 prov. | Sep. 22/Sep. 21 | Sep. 22/2019 | |
| Business sector | ||||||||
| Agriculture, forestry and fishing (AZ) | 1,414 | 1,090 | 1,100 | 0.9% | -22.2% | 1,060 | -3.3% | -25.0% |
| Industry (BE) | 3,435 | 1,854 | 2,479 | 33.7% | -27.8% | 2,616 | 44.6% | -23.8% |
| Construction (FZ) | 11,089 | 5,810 | 7,391 | 27.2% | -33.3% | 7,601 | 30.4% | -31.5% |
| Wholesale and retail trade; repair of motor vehicles and motorcycles (G) | 11,135 | 5,929 | 7,844 | 32.3% | -29.6% | 8,265 | 41.8% | -25.8% |
| Transportation and storage (H) | 2,097 | 1,148 | 1,526 | 32.9% | -27.2% | 1,612 | 40.4% | -23.1% |
| Accommodation and food service activities (I) | 6,840 | 2,991 | 4,229 | 41.4% | -38.2% | 4,543 | 62.9% | -33.6% |
| Information and communication (JZ) | 1,277 | 844 | 1,056 | 25.1% | -17.3% | 1,074 | 24.3% | -15.9% |
| Financial and insurance activities (KZ) | 1,087 | 654 | 822 | 25.7% | -24.4% | 864 | 34.4% | -20.5% |
| Real estate activities (LZ) | 1,631 | 1,282 | 1,240 | -3.3% | -24.0% | 1,236 | -1.3% | -24.2% |
| Advisory & Business support activities (MN) | 5,813 | 3,675 | 4,406 | 19.9% | -24.2% | 4,496 | 25.7% | -22.7% |
| Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) | 5,140 | 2,681 | 3,422 | 27.6% | -33.4% | 3,555 | 35.9% | -30.8% |
| All firms (b) | 51,145 | 28,032 | 35,591 | 27.0% | -30.4% | 37,000 | 34.4% | -27.7% |
Source: Banque de France - database: Fiben. Data available in early October 2022: final for August, provisional for September.
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) (raw data) | ||||||||
| 2019 | Aug. 21 | Aug. 22 | Aug. 22/Aug. 21 | Aug. 22/2019 | Sep. 22 prov. | Sep. 22/Sep. 21 | Sep. 22/2019 | |
| Size | ||||||||
| SME, among them | 51,121 | 27,993 | 35,564 | 27.0% | -30.4% | 36,969 | 34.5% | -27.7% |
| Micro-enterprises and unknown firm's size | 48,799 | 26,408 | 33,220 | 25.8% | -31.9% | 34,497 | 33.1% | -29.3% |
| Very small firms | 1,447 | 969 | 1,479 | 52.6% | 2.2% | 1,568 | 62.0% | 8.4% |
| Small firms | 625 | 445 | 642 | 44.3% | 2.7% | 682 | 59.3% | 9.1% |
| Medium-size firms | 250 | 171 | 223 | 30.4% | -10.8% | 222 | 30.6% | -11.2% |
| ISE - Large Firms | 24 | 39 | 27 | -30.8% | 12.5% | 31 | -6.1% | 29.2% |
| All firms | 51,145 | 28,032 | 35,591 | 27.0% | -30.4% | 37,000 | 34.4% | -27.7% |
Source: Banque de France - database: Fiben. Data available in early October 2022: final for August, provisional for September.
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 August 2022 (+ September 2022 provisional)
Cumulated over previous 12 months
From Dec. 1991 to August 2022 (+ September 2022 provisional)
2 - Change in number of bankruptcies
Annual year-on-year change
From Dec. 1991 to August 2022 (+ September 2022 provisional)
(in %)
Annual year-on-year change
From Dec. 1991 to August 2022 (+ September 2022 provisional)
(in %)
3 - Monthly number of bankruptcies
From Jan. 2019 to August 2022 (+ September 2022 provisional)
From Jan. 2019 to August 2022 (+ September 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 August 2022 (+ September 2022 provisional)
(in %)
Cumulated over previous 12 months
From Dec. 2006 to August 2022 (+ September 2022 provisional)
(in %)
Source: Banque de France - database: Fiben. Data available in early October 2022: final for August, provisional for September.
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Updated on the 11th of October 2022