Business failures - France 2024May
Published on 13 June 2024
At the end of May, a smaller year-on-year increase in the number of corporate bankruptcies
- At the end of May, the provisional cumulative number of bankruptcies aggregated over the last twelve months amounted to 60,210 (see graph 1). This level is slightly higher than the average measured over the 2010-2019 period (59,342).
- This expected catch-up, practically stable compared with April (60,159 bankruptcies), applies to all sectors of the economy, but in a heterogeneous way (see Table A). It also applies to all company sizes (see Table B).
- As a reminder, this increase is due to a dual effect : - The Catch up on the "backlog of corporate bankruptcies" observed during the Covid period (nearly 50,000 fewer corporate bankruptcies over the period 2020-2023) ;
- The number of cases referred to the Credit Mediation Service has not increased.
- Public services and those of the Banque de France are mobilised to help companies in difficulty.
- The current slowdown in the economy, even if growth remains positive at 0.8% expected in 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 | Apr. 24 | Apr. 24/Apr. 23 | Apr. 24/2010-2019 | May 23 | May 24 prov. | May 24/May 23 | May 24/2010-2019 | |
| Business sector | ||||||||
| Agriculture, forestry and fishing (AZ) | 1,359 | 1,331 | 7.7% | -2.1% | 1,227 | 1,281 | 4.4% | -5.7% |
| Industry (BE) | 4,442 | 4,053 | 16.9% | -8.8% | 3,519 | 4,048 | 15.0% | -8.9% |
| Construction (FZ) | 14,684 | 12,941 | 35.5% | -11.9% | 9,819 | 13,102 | 33.4% | -10.8% |
| Wholesale and retail trade; repair of motor vehicles and motorcycles (G) | 13,070 | 12,807 | 23.5% | -2.0% | 10,681 | 12,837 | 20.2% | -1.8% |
| Transportation and storage (H) | 1,901 | 2,540 | 34.3% | 33.6% | 1,944 | 2,578 | 32.6% | 35.6% |
| Accommodation and food service activities (I) | 7,374 | 8,184 | 29.0% | 11.0% | 6,600 | 8,094 | 22.6% | 9.8% |
| Information and communication (JZ) | 1,480 | 1,758 | 25.7% | 18.8% | 1,455 | 1,770 | 21.6% | 19.6% |
| Financial and insurance activities (KZ) | 1,150 | 1,496 | 39.8% | 30.1% | 1,103 | 1,516 | 37.4% | 31.8% |
| Real estate activities (LZ) | 1,984 | 2,284 | 48.0% | 15.1% | 1,598 | 2,285 | 43.0% | 15.2% |
| Advisory & Business support activities (MN) | 6,380 | 7,035 | 31.9% | 10.3% | 5,499 | 7,060 | 28.4% | 10.7% |
| Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) | 5,311 | 5,653 | 24.8% | 6.4% | 4,636 | 5,562 | 20.0% | 4.7% |
| All firms (b) | 59,342 | 60,159 | 28.5% | 1.4% | 48,158 | 60,210 | 25.0% | 1.5% |
Source: Banque de France - database: Fiben. Data available early June 2024: final for April, provisional for May.
Calculation: Banque de France - Companies Directorate - Companies Observatory.
Note: According to INSEE, the number of firms has risen by around 40% in 10 years.
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.
Calculation: Banque de France - Companies Directorate - Companies Observatory.
Note: According to INSEE, the number of firms has risen by around 40% in 10 years.
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.
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 | Apr. 24 | Apr. 24/Apr. 23 | Apr. 24/2010-2019 | May 23 | May 24 prov. | May 24/May 23 | May 24/2010-2019 | |
| Size | ||||||||
| SME, among them | 59,309 | 60,099 | 28.5% | 1.3% | 48,115 | 60,147 | 25.0% | 1.4% |
| Micro-enterprises and unknown firm's size | 56,055 | 55,016 | 26.9% | -1.9% | 44,552 | 55,049 | 23.6% | -1.8% |
| Very small firms | 2,011 | 3,217 | 52.8% | 60.0% | 2,195 | 3,215 | 46.5% | 59.9% |
| Small firms | 913 | 1,387 | 41.5% | 51.9% | 1,028 | 1,407 | 36.9% | 54.1% |
| Medium-size firms | 330 | 479 | 46.9% | 45.2% | 340 | 476 | 40.0% | 44.2% |
| ISE - Large Firms | 33 | 60 | 50.0% | 81.8% | 43 | 63 | 46.5% | 90.9% |
| All firms | 59,342 | 60,159 | 28.5% | 1.4% | 48,158 | 60,210 | 25.0% | 1.5% |
Source: Banque de France - database: Fiben. Data available early June 2024: final for April, provisional for May.
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.
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 April 2024 (+ May 2024 provisional)
Cumulated over previous 12 months
From Dec. 1991 to April 2024 (+ May 2024 provisional)
Note: The orange line represents the average value of the number of corporate bankruptcies over twelve months observed monthly between March 2010 and February 2019.
2 - Change in number of bankruptcies
Annual year-on-year change
From Dec. 1991 to April 2024 (+ May 2024 provisional)
(in %)
Annual year-on-year change
From Dec. 1991 to April 2024 (+ May 2024 provisional)
(in %)
3 - Monthly number of bankruptcies
Mean 2010-2019 and from Jan. 2020 to April 2024 (+May 2024 provisional)
Mean 2010-2019 and from Jan. 2020 to April 2024 (+May 2024 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 April 2024 (+ May 2024 provisional) (in %)
Cumulated over previous 12 months
From Dec. 2006 to April 2024 (+ May 2024 provisional) (in %)
Note: the sharp rise in the weighting of outstanding loans in the Very small businesses category from April 2024 is due to a legal unit, classified in this category due to its small size. Without this legal unit, the weight of Very small businesses failures in terms of outstanding loans would be equal to 0.85%. 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.
Source: Banque de France - database: Fiben. Data available early June 2024: final for April, provisional for May
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Updated on 13 June 2024