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Business failures 2018Oct

Published on 12/11/2018
In September 2018, the number of corporate bankruptcies decreased by 2.7% year-on-year
  • At the end of September 2018, the aggregate number of corporate bankruptcies over the last 12 months amounted to 53,496 down 2.7% compared to September 2017 (see tables A and B and charts 1 and 2).
  • However, the aggregate number of bankruptcies over the past 3 months increases by 4.5% compared to the same aggregate 3 months ago.
Over the past 12 months, corporate bankruptcies decreased in most business sectors
  • The agriculture, industry and wholesale and retail trade sectors recorded the strongest decreases in bankruptcies over the past 12 months ( 7.7%, -5.6% and -4.7%, respectively). Bankruptcies also decreased substantially in other sectors, particularly in the construction sector (-4.5%).
  • However, over the same period, corporate bankruptcies increased in some sectors, in particular in the transportation and storage sector (+8.3%) and in the advisory and business support activities (+3.7%).
In September 2018, bankruptcies decreased for most firm sizes
  • Bankruptcies decreased for SMEs as a whole (-2.7%), despite an increase for Very small firms (+1.5%). They decreased also for Intermediate-sized enterprises (ISEs) and Large firms (-3 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 September, 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 1.6% at the end of October 2018, 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)
Sep-2017 Sep-2018 Sep. 18/Sep. 17 Oct. 18 prov. Oct. 18/Sep. 17 Sep. 2018 July 18 Aug. 18 Sep. 2018
Business sector
Agriculture, forestry and fishing (AZ) 1,539 1,421 -7.7% 1,421 -6.2% 6.0% 121 123 124
Industry (BE) 3,949 3,727 -5.6% 3,823 -3.5% 5.8% 300 330 338
Construction (FZ) 12,303 11,750 -4.5% 11,822 -3.5% 5.5% 998 1,068 1,068
Wholesale and retail trade; repair of motor vehicles and motorcycles (g) 12,085 11,511 -4.7% 11,633 -3.3% 0.2% 950 1,003 992
Transportation and storage (H) 1,809 1,960 8.3% 1,999 11.7% 6.3% 186 160 182
Accommodation and food service activities (I) 7,229 7,271 0.6% 7,300 0.4% 4.6% 592 634 714
Information and communication (JZ) 1,375 1,318 -4.1% 1,315 -4.2% -5.1% 113 110 102
Financial and insurance activities (KZ) 1,075 1,042 -3.1% 1,043 -3.2% -8.2% 96 89 86
Real estate activities (LZ) 1,797 1,723 -4.1% 1,723 -3.3% -4.3% 127 144 141
Advisory & Business support activities (MN) 5,822 6,036 3.7% 6,103 5.9% 26.0% 482 814 494
Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) 5,470 5,316 -2.8% 5,302 -2.9% 2.0% 438 458 494
All firms (d) 54,961 53,496 -2.7% 53,912 -1.6% 4.5% 4,454 4,914 4,749
Source: Banque de France - database: Fiben. Data available at end-November 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)
Sep. 17 Sep. 18 Sep. 18/Sep. 17 Oct. 18 prov. Oct. 18/Oct. 17 Sep. 18 July 18 Aug. 18 Sep. 18
Size
SME, among them 54,920 53,458 -2.7% 53,869 -1.6% 4.6% 4,452 4,911 4,748
Micro-enterprises and unknown firm's size 51,664 50,192 -2.8% 50,594 -1.6% 4.7% 4,172 4,643 4,467
Very small firms 2,024 2,054 1.5% 2,060 0.9% 3.9% 171 165 180
Small firms 932 915 -1.8% 917 -3.0% 1.3% 82 76 77
Medium-size firms 300 297 -1.0% 298 -1.0% -2.1% 22 26 23
ISE - Large Firms 41 38 -7.3% 43 4.9%
All firms 54,961 53,496 -2.7% 53,912 -1.6% 4.5% 4,454 4,914 4,749
Source: Banque de France - database: Fiben. Data available at end-November 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 September 2018

2 - Change in bankruptcies
Year-on-year change in the 12-month aggregate
From Dec. 1991 to September 2018 (+ October 2018 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 September 2018 (+ October 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 September 2018 (+ October 2018 provisional)

(in %)
Source: Banque de France, Companies Directorate, Data available at end-November 2018
More information on: methodology, time series, calendar
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STAT INFO - October 2018
Corporate bankruptcies in France
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Business failures - France
  • Published on 12/11/2018
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Published on Tuesday, December 11, 2018