Business failures - France - 2025-02
Published on the 4th of April 2025
At the end of February, the cumulative number of corporate bankruptcies over the last twelve months stabilized
- At the end of February 2025, the cumulative number of corporate bankruptcies over the last twelve months was 66,107 (see graph 1), stable compared with January, when it stood at 66,182 (revised data ). This observation is common to all company sizes and sectors (see tables A and B).
- On an annual basis, we continue to see an increase in corporate bankruptcies (cumulative 12 months), at +12.5%, if we compare the period March 2024-February 2025 with that of a year earlier. This increase, partly due to a catch-up effect following the sharp slowdown in corporate bankruptcies during the covid period (2020-2021), is nevertheless continuing its gradual deceleration, since it was up 15.4% in January (see graph 2).
- The number of corporate bankruptcies among intermediate-sized enterprises (ISEs) and large companies has remained constant for several months, but at a higher level than its pre-pandemic average.e.
- Over the same period, the corporate population is growing; according to INSEE, around 1.11 million enterprises were created at the end of February over a sliding 12-month period, up 2.3% compared with the cumulative 12 months to the end of February 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 | Jan. 25 | Jan. 25/Jan. 24 | Jan. 25/2010-2019 | Feb. 24 | Feb. 25 prov. | Feb. 25/Feb. 24 | Feb. 25/2010-2019 | |
| Business sector | ||||||||
| Agriculture, forestry and fishing (AZ) | 1,359 | 1,429 | 7.5% | 5.2% | 1,366 | 1,438 | 5.3% | 5.8% |
| Industry (BE) | 4,442 | 4,276 | 9.0% | -3.7% | 3,990 | 4,253 | 6.6% | -4.3% |
| Construction (FZ) | 14,684 | 14,789 | 22.0% | 0.7% | 12,460 | 14,792 | 18.7% | 0.7% |
| Wholesale and retail trade; repair of motor vehicles and motorcycles (G) | 13,071 | 13,712 | 11.4% | 4.9% | 12,629 | 13,677 | 8.3% | 4.6% |
| Transportation and storage (H) | 1,901 | 3,018 | 30.1% | 58.8% | 2,430 | 2,993 | 23.2% | 57.4% |
| Accommodation and food service activities (I) | 7,374 | 8,681 | 10.2% | 17.7% | 8,040 | 8,727 | 8.5% | 18.3% |
| Information and communication (JZ) | 1,480 | 2,015 | 15.9% | 36.1% | 1,750 | 2,045 | 16.9% | 38.2% |
| Financial and insurance activities (KZ) | 1,150 | 1,673 | 22.9% | 45.5% | 1,419 | 1,659 | 16.9% | 44.3% |
| Real estate activities (LZ) | 1,984 | 2,596 | 27.0% | 30.8% | 2,119 | 2,559 | 20.8% | 29.0% |
| Advisory & Business support activities (MN) | 6,379 | 7,907 | 16.7% | 24.0% | 6,940 | 7,894 | 13.7% | 23.7% |
| Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S) | 5,311 | 5,994 | 9.3% | 12.9% | 5,567 | 5,974 | 7.3% | 12.5% |
| All firms (b) | 59,342 | 66,182 | 15.4% | 11.5% | 58,780 | 66,107 | 12.5% | 11.4% |
Source: Banque de France - database: Fiben. Data available end of March 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.
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 | Jan. 25 | Jan. 25/Jan. 24 | Jan. 25/2010-2019 | Feb. 24 | Feb. 25 prov. | Feb. 25/Feb. 24 | Feb. 25/2010-2019 | |
| Size | ||||||||
| SME, among them | 59,309 | 66,117 | 15.4% | 11.5% | 58,719 | 66,042 | 12.5% | 11.4% |
| Micro-enterprises and unknown firm's size | 56,055 | 60,723 | 15.1% | 8.3% | 54,017 | 60,624 | 12.2% | 8.2% |
| Very small firms | 2,011 | 3,376 | 17.5% | 67.9% | 2,979 | 3,380 | 13.5% | 68.1% |
| Small firms | 913 | 1,529 | 22.7% | 67.5% | 1,286 | 1,545 | 20.1% | 69.2% |
| Medium-size firms | 330 | 489 | 17.8% | 48.2% | 437 | 493 | 12.8% | 49.4% |
| ISE - Large Firms | 33 | 65 | 6.6% | 97.0% | 61 | 65 | 6.6% | 97.0% |
| All firms | 59,342 | 66,182 | 15.4% | 11.5% | 58,780 | 66,107 | 12.5% | 11.4% |
Source: Banque de France - database: Fiben. Data available end of March 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.
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 February 2025
Cumulated over previous 12 months
From Dec. 1991 to February 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 February 2025
(in %)
Annual year-on-year change
From Dec. 1991 to February 2025
(in %)
3 - Monthly number of bankruptcies
Mean 2010-2019 and from Jan. 2020 to February 2025
Mean 2010-2019 and from Jan. 2020 to February 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 February 2025
(in %)
Cumulated over previous 12 months
From Dec. 2006 to February 2025
(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 0.91%. 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 end of March 2025.
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EN_Stat_Info_Corporate_Bankruptcies_202502.pdf
Updated on the 4th of April 2025