In 2024, 9,015 bankruptcy proceedings and 28,907 dissolutions were recorded in Spain, according to data on Bankruptcy Proceedings and Dissolutions extracted by INFORMA D&B SAU (SME), (subsidiary company of Cesce), leader in the provision of Commercial, Financial, Sectorial and Marketing Information, with a growth of 22% and 1% respectively.
79% of the bankruptcy proceedings initiated during these twelve months correspond to bankruptcies , 7,146, an increase of 10%, restructuring plans are close to 4%, reaching 334, 2% less in this case, and 1,535 special procedures have been registered , an increase of 192%, which represents 17%.
Nathalie Gianese, Director of Studies at Informa D&B comments:
“During 2024, there has been a rise in the number of insolvency proceedings, of 22%, with bankruptcies being the most abundant, representing 79%, and special proceedings growing the most, 192%, to reach the highest figure of the last decade, 9,015 proceedings in total.”
The number of bankruptcies in December was significantly reduced compared to the previous month, by 40%, standing at 462, and is 17.5% below the same month last year. In addition, 19 restructuring plans were registered, one less than in 2023 and 46% below the previous month, and 137 special procedures for micro-enterprises, a decrease of 38% compared to November but 41% more than in December 2023.
The number of insolvency proceedings accumulated this month thus totals 618, a 9% reduction from the previous year. The number of dissolutions in December increased by 14% compared to a year ago and by 35% compared to November, to reach 3,320, the third month in which most are registered, only surpassed by January and February.
The smaller companies, micro-enterprises, represent the majority of the insolvency proceedings initiated in December, 80%, small companies account for 16%, medium-sized companies for 4% and no large companies have initiated insolvency proceedings this month. As for restructuring plans, micro-enterprises account for 42% of the total, small companies for 37%, medium-sized companies for nearly 11% and there are 2 large companies this month.
Trade and hospitality have the largest increases in the number of bankruptcies
Bankruptcy proceedings in 2024 are growing in almost all sectors of activity with three exceptions: Extractive industries, which are down 50%, Health, where they are down 9%, and Administration, which is not registering any. Commerce leads the number of bankruptcies, with 1,871, 26% of the total, followed by Construction and real estate activities, with 1,313, and Hospitality with 855. Commerce and Hospitality are also the ones that are growing the most in absolute value, adding 137 and 118 each.
Trade also leads the way in restructuring plans and special procedures registered during the year, 73 and 391 respectively. Industry is the next with the most restructuring plans, with 69, followed by Construction and real estate activities, with 57, which is second in number of special procedures with 276. It should be noted that special procedures are increasing in all sectors of activity, especially in Trade and Construction and real estate activities, which register increases of 264 and 184 respectively.
Thus, Commerce accounts for 26% of the bankruptcy proceedings registered throughout the year, 2,335, and Construction and real estate activities 18%, 1,646.
In December , Commerce leads the data on bankruptcies with 112, followed by 88 in Construction and real estate activities and 66 in Hospitality . Commerce and Business Services are the ones with the most special procedures, 35 and 24 in each case, and Industry leads the restructuring plans this month with 7.
The highest figures for dissolutions in 2024 were recorded in Construction and real estate activities, 7,360, an increase of 4%, Commerce, 5,942, up 5%, and Business services, 4,585, up 3%. Financial intermediation experienced the largest decline, cutting 424 and Energy subtracting 345. During the month of December, the same three sectors also registered the most processes, with 815, 694 and 544 respectively.
Valencia is the community where the competitions are cut the most
Catalonia ends the year as the autonomous region with the highest number of bankruptcies, with 2,162, 13% more, followed by Madrid with 960, where they rose by 9%, and Valencia with 838, which decreased by 16%, with the largest decrease in absolute value, 161. Between the three they account for 55% of the total.
In the case of restructuring plans, Madrid is the first, with 62, 2% more, and Catalonia has 55, 35% less. Madrid is also the autonomous region with the most special procedures for micro-enterprises in 2024, 631, followed by Valencia 's 274 , together accounting for more than half of the total.
The number of insolvency proceedings accumulated in 2024 is growing in most of the communities, except for Aragon, where they are down by 19%, and La Rioja, with 29% less. Catalonia is the most affected autonomous region, with 2,353, an increase of 12%. After it, there are 1,653 in Madrid, which is up by 46%, and 1,139 in Valencia, which is up by 6%.
In December , Catalonia is again the community with the most bankruptcies, with 169, Madrid leads the special procedures for micro-enterprises with 57, and Asturias the restructuring plans with 11.
In the case of dissolutions, Madrid concentrates 27% of the accumulated total, 7,939. After it, Andalusia, with 4,525, and Valencia with 3,262. Although it leads the data, Madrid has the highest decrease in absolute value, reducing 341 compared to last year while Andalusia adds 505. In December, the dissolution processes reach 985 in Madrid, 495 in Andalusia and 351 in Valencia. In 2024, the data decreases in seven communities, in addition to Madrid: Aragón, 6%, Castilla y León, 1%, Ceuta, 17%, Melilla, 35%, Valencia, 2%, La Rioja, 6%, and Navarra, 39%.
The companies with the highest turnover in bankruptcy in 2024 have been:
In the case of restructuring plans:
And for special procedures for micro-enterprises:
Among the dissolutions:
The transposition of the European Directive 2019/1023 on restructuring and insolvency has meant a profound change in the Spanish bankruptcy system where, through the reform of the Bankruptcy Law 16/2922, of September 5, two new procedures have been introduced: a special one for micro-enterprises and restructuring plans.
Source: Informa
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