Bankruptcies Highest Since Start of Crisis
August 8th, 2012
The number of companies and families who filed for bankruptcy in the second quarter of the year reached 2,272, the highest figure in its history, with an increase of 28.6% over the same period the previous year.
Specifically, companies in bankruptcy rose by 36.2% in the second quarter, to 2,026, while family bankruptcies fell 12.1% to 246 of the total of bankruptcy proceedings, according to Bankruptcy Proceedings Statistics published by the National Statistics Institute.
30.8% of the insolvent companies had construction as their main activity, 18.3% were from industry and 17.4% from trade.
Of the total proceedings registered in the second quarter, 2,111 are voluntary, 27.1% more than the same period in 2011, and 161 are enforced, with an increase of 51.9%. Based on type of proceeding, ordinary proceedings increased by 270.6% and abbreviated by 7.3%.
Compared with the first quarter, the number of debtors processed increased by 2.2% between April and June, with an increase of 3.5% in companies declaring bankruptcy and a decrease of 7.5% in families declaring bankruptcy.
By region, Catalonia, Valencia, Madrid and Andalusia had the highest number of declarations of bankruptcy throughout the second quarter, grabbing 60.5% of the total. Catalonia recorded 478 proceedings, Valencia 365, Madrid had 268, and Andalusia, 263.
The regions with least defaults were Navarre, with 28 proceedings, Cantabria, 26, Extremadura with 22, and La Rioja, with 16.
- Family Bankruptcies Soar 23.5% in Third Quarter
- Company Bankruptcies in 2011
- Bankruptcies Continue at High Level