Business failures - France - 2025-06

Published on the 8th of August 2025

At the end of June, the stabilization in the cumulative number of corporate bankruptcies over the last twelve months is confirmed
  • At the end of June 2025, the cumulative number of corporate bankruptcies over the last twelve months remained stable at 67,340 (see graph 1), slightly lower than in May (67,285, revised data ). This observation is common to most company sizes and sectors (see tables A and B).

  • On an annual basis, the increase in corporate bankruptcies (cumulative 12 months) continued their gradual slowdown (+8.2% in June, compared with +9.6% in May - see graph 2).

  • The number of corporate bankruptcies among intermediate-sized enterprises (ISEs) and large companies has remained stable for several months, but at a higher level than its pre-pandemic average.

  • Over the same period, the corporate population is growing; according to INSEE, more than 1.1 million enterprises were created at the end of June 2025 over a sliding 12-month period, up 0.2% compared with the cumulative 12 months to the end of June 2024.


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 previous 12 months (a) (raw data)
Mean 2010-2019 May 25 May 25/May 24 May 25/2010-2019 June 24 June 25 June 25/June 24 June 25/2010-2019
Business sector
Agriculture, forestry and fishing (AZ) 1,359 1,507 8.7% 10.9% 1,400 1,506 7.6% 10.8%
Industry (BE) 4,442 4,299 5.2% -3.2% 4,122 4,272 3.6% -3.8%
Construction (FZ) 14,684 14,849 10.8% 1.1% 13,766 14,732 7.0% 0.3%
Wholesale and retail trade repair of motor vehicles and motorcycles (G) 13,071 13,826 6.3% 5.8% 13,219 13,740 3.9% 5.1%
Transportation and storage (H) 1,901 3,112 19.0% 63.7% 2,674 3,162 18.2% 66.3%
Accommodation and food service activities (I) 7,374 8,961 9.5% 21.5% 8,249 9,038 9.6% 22.6%
Information and communication (JZ) 1,480 2,093 16.2% 41.4% 1,831 2,099 14.6% 41.8%
Financial and insurance activities (KZ) 1,150 1,650 7.8% 43.5% 1,549 1,659 7.1% 44.3%
Real estate activities (LZ) 1,984 2,520 7.3% 27.0% 2,397 2,523 5.3% 27.2%
Advisory & Business support activities (MN) 6,379 8,173 13.6% 28.1% 7,286 8,209 12.7% 28.7%
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) 5,311 6,189 7.5% 16.5% 5,660 6,290 11.1% 18.4%
All firms (b) 59,342 67,285 9.6% 13.4% 62,231 67,340 8.2% 13.5%
Source: Banque de France - database: Fiben. Data available at the beginning of August 2025.

Calculation: Banque de France - Companies Directorate - Companies Observatory.

a Aggregate number of corporate bankruptcies over previous 12 months compared to the same aggregate one year before and with the 2010-2019 mean.

b The line « All firms » includes legal units whose business sector is not known.





1 As a reminder, the data is revised on a monthly basis, with judgement records that may be communicated at a later date.









B - Corporate bankruptcies by firm size
Bankruptcies in number of legal units, year on year change (%)
Aggregate over previous 12 months (a) (raw data)
Mean 2010-2019 May 25 May 25/May 24 May 25/2010-2019 June 24 June 25 June 25/June 24 June 25/2010-2019
Size
SME, among them 59,309 67,224 9.6% 13.3% 62,170 67,282 8.2% 13.4%
Micro-enterprises and unknown firm's size 56,058 61,707 9.4% 10.1% 57,217 61,699 7.8% 10.1%
Very small firms 2,012 3,471 11.5% 72.5% 3,126 3,512 12.3% 74.6%
Small firms 910 1,537 12.9% 68.9% 1,394 1,561 12.0% 71.5%
Medium-size firms 329 509 18.6% 54.7% 433 510 17.8% 55.0%
ISE - Large Firms 33 61 -11.6% 84.8% 61 58 -4.9% 75.8%
All firms 59,342 67,285 9.6% 13.4% 62,231 67,340 8.2% 13.5%
Source: Banque de France - database: Fiben. Data available at the beginning of August 2025.

Calculation: Banque de France - Companies Directorate - Companies Observatory.

a Aggregate number of corporate bankruptcies over previous 12 months compared to the same aggregate one year before and with the 2010-2019 mean.

C - Changes in corporate bankruptcies
1 - Number of bankruptcies

Cumulated over previous 12 months

From Dec. 1991 to June 2025
Note: The orange line represents the average value of the number of corporate bankruptcies over twelve months observed monthly between January 2010 and December 2019.
2 - Change in number of bankruptcies

Annual year-on-year change

From Dec. 1991 to June 2025

(in %)




3 - Monthly number of bankruptcies

Mean 2010-2019 and from Jan. 2020 to June 2025
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 June 2025

(in %)
Note: the sharp rise in the weighting of outstanding loans in the Very small businesses category between April 2024 and March 2025 reversed in April 2025 due to the removal of a legal unit bankrupted in April 2024, and classified in this category due to a low number of employees. For small businesses, the rise is due both to an increase in the number of bankruptcies and to an increase in the average loan outstanding. Since July 2024, it was further strengthened by the default of a small corporate with significant outstandings in this category.
Source: Banque de France - database: Fiben. Data available at the beginning of August 2025.







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Corporate bankruptcies


STAT INFO - Juin 2025

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Updated on the 7th of August 2025