Bankruptcy processes have grown by 61% year-on-year in January 2023, after the reform of the Bankruptcy Law and the introduction of the latter procedure, according to the ‘Study on Bankruptcy Procedures’ carried out by Informa.
The number of bankruptcies has increased by 42% compared to January 2022, and 7% compared to the December figure. Micro-enterprises have executed 91% of these processes, 7% small and 1% medium-sized, while only 4 large companies have entered the competition in the first month of the year.
On the contrary, large companies have exercised a significant weight in restructuring plans (38% of the total, with 32 companies), although micro-enterprises have also led these procedures (45%). Small (13%) and medium-sized (less than 4%) have performed fewer procedures.
The entry into force of the bankruptcy reform has also caused a decrease in express bankruptcies since September of last year because, while during the first eight months of 2022 they did not fall below 65.5%, in this first month of the year they have represented less of 15%.
The companies that began a restructuring plan in January 2023 had a total turnover of 4,000 million euros, well above the 1,150 million reached by the entities in bankruptcy.
Thus, the five companies with the highest turnover that entered the restructuring process were Compañía Española de Laminación (1,332 million euros), Global Steel Wire (455 million euros), Nervacero (388 million euros), Celsa Atlantic (354 million euros) and Ferimet (280 million euros).
For their part, the five companies with the highest turnover that entered the competition in January were Buran Operadora (703 million euros), Eurofinsa (37 million euros), Placar Diversa (22 million euros), Avalon Tecnologías de la Información (19 million euros) and Uniproca (19 million euros).