BIIA member Creditreform International published its report on business insolvency in Western Europe. It provides an interesting historical backdrop as a comparison what one has to expect post Covid-19 developments.
The number of corporate insolvencies in Western Europe (EU-15 plus Norway and Switzerland) declined further in 2019. The total, 163,548, represented the lowest level for ten years. Compared with the previous year (165,213 cases), the decrease was 1.0 percent. However, only six of the 17 countries surveyed actually recorded a reduction in their insolvency volumes – but these included large economies like France, Germany and the United Kingdom. The biggest fall in insolvency figures was in Ireland (minus 25.9 percent). In contrast, the number of cases rose markedly in Denmark, Greece, Spain and Belgium, among others.
To read the entire report click on this link: 2020-05-26_AY_OE_Analyse_EU-2019_englisch_international
Source: Creditreform International