Spain multiplies bankruptcy processes by five since 2007

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In the fourth quarter of 2017, nearly 1,568 new bankruptcy proceedings have been registered in Spain, according to the monitoring of judicial insolvencies carried out by the Credit and Surety Risk Management Area , based on data published in the Official Gazette of the State. Compared to 2016, the quarterly data represents a worsening of 2.7% in the levels of judicial insolvency. The accumulated data throughout the four quarters of the year represents a worsening of 8.7% compared to the previous year.

The behavior of bankruptcy proceedings in 2017 confirms the change in trend Email Data observed in the fourth quarter of 2016 when, for the first time since 2012, the number of new bankruptcy proceedings registered a worsening compared to the same period of the previous year.

Bankruptcy in Spain reached its historical maximum in 2013, when the number of bankruptcy proceedings was very close to 10,000. From 2014 to June 2016, bankruptcy proceedings recorded sustained improvement.




However, the second half of 2016 already anticipated a possible change in trend and Spain finally closed the year slightly above 5,000 new bankruptcy proceedings, levels of judicial insolvency well above the 1,000 annual cases prior to the crisis.

Despite the improvement recorded from 2014 to 2016, the annual number of insolvencies in Spain is still five times higher than the levels of 2007, the highest multiplier of the surrounding countries.