Indeed, our Global Insolvency Index which covers 43 countries totaling 83% of global GDP is to post a +10% y/y Education. Interestingly, Asia was already a key contributor to the global level in major insolvencies in 2018, totaling 1 out of 4 major insolvencies over Q1-Q3 2018 after a noticeable increase in top insolvencies in the Construction sector, notably in Japan and India, in Energy and Agrifood. ... CVR Global LLP is part of the Begbies Traynor Group of companies, specialist professional services . It did not stop corporate debt to keep on growing – to a high share of investment grade corporate (35% of BBB in Q2 2018). The number of construction companies entering insolvency between October 2019 and December 2019 was 748, which is the third consecutive quarter-on-quarter reduction. The strength of social hierarchy matters for insured trade credit defaults. 3. Indeed, the first three quarters of 2O18 pointed to another batch of 247 insolvencies of major companies - namely firms with more than EUR50mn in turnover. At the same time, the end of easy financing is increasing the vulnerability of debt intensive sectors and more globally of most indebted companies. National Insolvency Statistics. The surge in insolvencies in China will keep on driving up the regional (and global) insolvency figures. Partners, Directors and Consultants acting as administrators or administrative receivers contract as agents and without personal liability. The global economy seems to have gone back to the 2015-16 limbo after two years of strong growth. Denmark. https://www.gov.uk/government/collections/insolvency-service-official-statistics In other words, we expect economic growth to gradually become insufficient for a higher number of companies in a higher number of countries in regards to their production costs, (re)financing costs and structural challenges. A total of 111 corporate insolvencies were recorded in Ireland in the first quarter of 2021, according to the latest insolvency statistics published by Deloitte. Indeed, our Glob-al Insolvency Index, which covers 44 countries that account for 87% of global GDP, is expected to record a +9% y/y increase for 2019. In this context, Western Europe risks remaining a key contributor to the global list of top insolvencies, as has been the case in 2018, notably in the retail sector with 20 major insolvencies in the first three quarters of 2018, and big ticket failures notably in the UK, Italy and France, as well as in Agrifood (12 cases), Services (11) and Construction (11). US insolvencies have reached a new low in 2018 after a ninth year of steady fall reflecting the robust performance of the economy in the past years and in particular the positive impact on businesses of the massive fiscal stimulus in 2018. This article provides an update on the global cancer burden using the GLOBOCAN 2020 estimates of cancer incidence and mortality produced by the International Agency for Research on Cancer. Asia posted the strongest increase in insolvencies of companies with a turnover exceeding EUR 1bn (+12 to 26 cases). These local and global trends are coalescing to reveal hidden weaknesses in companies buoyed by cheap credit and prolonged GDP growth over the past decade. The gradual acceleration of the economy expected in 2019 should contribute to a trend reversal in insolvencies in Colombia (from +25% to -10%) and to confirm the improvement in Brazil (-6% in 2019) where insolvencies struggled to diminish in 2018 (-3%) from the 10 years high reached in 2017. insolvencies will increase globally by a further 1.2% in 2020 business failure rates in the UK will increase by 10% this year North America will see the highest insolvency growth on any continent (3.2% in 2019 and 1.7% in 2020) western Europe will see a 2.7% rise in corporate insolvencies in 2019 In this context, our proprietary Global Insolvency Index bounced back to just slightly below its 2013 level. Global uncertainties and protectionist trade policies have been key drivers of the upswing. In the Netherlands and Germany, business insolvencies will stop their decline and record respectively 3,630 and 19,350 cases again in 2019, but both countries would be most affected by renewed tensions in international trade and the car industry in particular. Or Despite a slight decrease (-9), Western Europe remained the largest contributor to the global insolvency count in 2019 with 133 cases, ahead of Asia with 96 cases (+5). This represents a marked decrease of 30% from the same quarter in 2020, when 159 incidents were recorded. At a global level, the upward trend in business insolvencies continued in 2019 (+9% y/y), mainly due to the prolonged surge in China (+20%) and, to a lesser extent, a trend reversal in Western Europe (+2%) and North America (+3%). Statistics on new individual insolvencies in England and Wales, and related statistics for Scotland and Northern Ireland Individual Insolvency Statistics Releases - GOV.UK Cookies on GOV.UK Insolvency Statistics, July to September 2018 Statistics on new corporate and individual insolvencies in England and Wales, and related statistics for Scotland and Northern Ireland. After an economic boom, Poland is heading for a slowdown in 2019 and 2020 amid an increasingly challenging global environment. All in all, four out of five countries will post a rise in insolvencies in 2020, with Brazil (-3% y/y) and France (0%) as the key exceptions. At the same time, the remaining countries of the region registered slower declines in 2018, notably the Netherlands (from -23% to -6%), Portugal (-12%), Ireland (-10%) and Germany (-4%). Monthly insolvency statistics (Series 1 and 2) Please note that these statistics are uploaded one month in arrears. Economies forecasted to moderate in line with the slowdown in the Eurozone, but to remain robust enough to see another decrease in insolvencies, albeit at more limited tempo, typically Hungary (from -18% in 2018 to -11% in 2019) and Czech Republic (respectively -17% and -10%). While the easing of global monetary and financial conditions will help, increased price competition and higher salaries will limit margins and translate into additional woes for a higher number of companies in a majority of countries. Official insolvency statistic from the Federal Statistical Office in Wiesbaden (English) Source: Statista Reported by Michael THIERHOFF, Wirtschaftsprüfer, Thierhoff Müller & Partner, Rechtsanwälte Wirtschaftsprüfer Steuerberater A stop-and-go approach until the return to normal in 2022. In June 2020 there were a total of 732 company insolvencies in England and Wales – 262 less than May and a 50 per cent reduction on the same month last year – according to data released by The Insolvency … Western Europe, where economic growth will remain below the historical threshold which usually stabilizes the number of insolvencies (+1.7%), will see an increase in most countries, but the latter would be moderate, notably in Germany (+3%), Italy (+4%) and Spain (+5%), as well as the UK (+3%). Czech Republic. At the same time, we expect business insolvencies to broadly stabilize in South Korea (from -6% in 2018 to 0%), Japan (respectively -2% and +1%), Hong-Kong (-10% and +2%) but to keep on increasing in Australia (+3% in 2019 after +2% in 2018), New-Zealand (respectively +6% and +1%) and, from a low level, Singapore (+10%). In India, 2018 will mechanically post a noticeable increase due to the gradual implementation of the new Insolvency law established end of 2016 for the whole country. Shrinking company count, employment and profitability suggest that e-commerce isn’t compensating for the destruction of physical retail. Discover all statistics and data on Corporate insolvency now on statista.com! Corporate insolvency statistics Monthly ITS administered liquidations Liquidation figures relating to those liquidations that have been administered by the Insolvency and Trustee Service only. As a result, our Global Insolvency Index is set to record a -4% decline in H1 2020 compared to H2 2019, with a noticeable drop in Western Europe (-15% y/y in H1), followed by Central and Eastern Europe (-7%) and Latin America. Q2 company insolvency stats reaction The rate of company insolvencies across England and Wales between April and June was down by 23 per cent versus the previous quarter and 33 per cent down year-on-year – with construction, retail and food and accommodation all suffering the most insolvencies; according to The Insolvency Service’s quarterly company insolvency statistics . Croatia. Infographic. Insolvency statistics in Denmark display significant volatility due to statistical revisions and the relationship with economic performance is sometimes weaker than in other countries. 1. The data is categorized under Global Database’s Germany – Table DE.O020: Insolvency Statistics. Latest figures show a tempo of approximatively 800 cases annually, but it is not yet possible to determine if the Court capacities are playing a role at this stage. But although insolvencies fell, compulsory liquidations went up by 42 per cent, and CVAs by 34 per cent – although overall numbers of CVAs are low so the percentage figure does not actually represent a large … Global business insolvencies are set to increase by +6% in 2020 In 2019, global insolvencies rose for the third consecutive year. Yet, this performance did not prevent the US from displaying 5 out of the 10 largest global insolvencies in terms of turnovers over the first three quarters of 2018, with several sectors facing huge challenges and competition due to digitalization/innovation, in particular the retail sector. Indeed, our Global Insolvency Index, which covers 44 countries that account for 87% of global GDP, is expected to record a +9% y/y increase for 2019. The latest Company Insolvency Statistics from the Insolvency Service offer a glimmer of hope for the UK construction industry that has been operating under dark clouds for a number of years now. In our view, the upside trend in insolvencies will continue in 2019 (+6% y/y). However, this outlook will reflect a more universal reason: the softening of the global economy to a too-low pace of growth. All in all, this insolvency outlook calls for more selectivity and preventive actions such as stellar credit management practices. The prosperity gap between rich and poor countries has widened again. At the same time, Canada should see a slight increase only in 2019 (+4%) from the low level reach in 2018, so that the North America Insolvency Index would post a stabilization in 2019. In 2018, global insolvencies confirmed their upward trend which started in 2017 after seven consecutive years of sizable declines. In this regard, Construction (with 41 major insolvencies over Q1-Q3), Retail (39) and Agrifood (24) were the most concerned sectors in 2018, and the Western Europe (106), Asia (68) and Central and Eastern Europe (42) the most impacted regions. The latter results from various factors: (i) a noticeable upturn in the UK (+12% y/y), which confirms that Brexit-related uncertainties added headwinds on businesses despite the resilience of GDP figures; (ii) a stabilization in France, Spain and Belgium; and (iii) a sizable increase in the four Nordics (+10% y/y in Sweden, +13% in Norway, +19% in Finland and +25% in Denmark), which comes from economic and fiscal reasons and exceptional factors (the administrative bankruptcies of inactive companies in Denmark, a backlog of official insolvency data that created an artificially low base of comparison in Finland). Chart 2 Countries with insolvencies stabilized/on the upside and on the downside (in number, yearly), Sources: National Statistics, Euler Hermes, Allianz Research. De facto, Portugal and Ireland will be the major exceptions, with insolvencies remaining on the downside (-5% both). March 2021 Bankruptcy Statistics- … Education & Events. England & Wales. Global Insolvency Outlook 2019: The collateral damage of too-low growth and tightening financial conditions, more details about our latest macroeconomic scenario. Focusing on firms with a turnover exceeding EUR50mn, our Q3 2019 monitoring points to quarterly rebound in major insolvencies. The latter will result on one hand from the on-going softening and adjustments of the Chinese economy, notably in regards to credit growth, Belt and Road Initiative and international trade issues, and on the other hand from the increasing inclination to use insolvency procedures, in particular by the authorities, in order to clean the ‘zombie’ state-owned enterprises (exceeding 20,000 cases according to some studies). Education & Events. Being ahead of the epidemic curve, China felt the largest economic impact in Q1 of 2020, while in Q2, the economic activity rebounded, by 3.2% year-on-year. Cyprus. Indeed, our Global Insolvency Index which covers 43 countries totaling 83% of global GDP is to post a +10% y/y increase for 2018, an estimation supported by the latest available data. The region as a whole has seen a quasi-stabilization of business insolvencies in 2018, with a -1% decrease of the regional insolvency index, and should see in 2019 a +4% rebound to a five years high. New figures released by Deloitte on the latest insolvency statistics show another drop in corporate insolvencies, continuing a steady trend in recent years. France, Italy and Spain are set to post a trend reversal with a slight increase (+2%). Our guide sets out how different jurisdictions are changing their Insolvency Laws to help alleviate additional pressures placed on businesses as a consequence of cash flow pressures caused by COVID-19. Some businesses do survive, but many tend to close shop as the final available option. Virtual Law Workshop gathers PhD Researchers from Europe and beyond in Leiden From 4 to 5 March 2021, the Stichting (Foundation) Bob Wessels Insolvency Law Collection (BWILC) organised the third edition of the PhD Workshop on European and International Insolvency Law. In this context, we foresee 2 out of 3 countries will post an increase in business insolvencies in 2019 (compared to 2 out of 5 in 2018) and 1 out of 2 countries to register more insolvencies in 2019 than observed in average over 2003-2007, before the financial crisis of 2008. Insolvency data for Q1 2019 suggest a worsening severity, which could have serious effects on providers along supply chains. An outlook report by credit insurance firm Atradius has forecast corporate insolvencies around the globe for 2019 and 2020. This year, business failures will rise again for the fourth consecutive year: +6% y/y. Monthly Insolvency Statistics, February 2021. However this outcome will result from the increasing trend in Chile (+13% anticipated in 2019) which is only gradually weakening since the new Insolvency law boosted insolvencies in 2014. China is the only major market expected to escape a recession. In the last group we have countries with a continued rise in insolvencies: Bulgaria (+3% expected in 2019); Slovakia (+16%), where the changes in the Insolvency law done in 2017 keeps on boosting the bankruptcies of sole proprietorships; Poland (+5%), where businesses have a structural problem of profitability and will face a noticeable deceleration of the economy; and Turkey (+5%), where the currency crisis will continue to take its toll on the domestic economy and all the non-tradable sectors in particular. Global uncertainties and protectionist trade policies have been key drivers of the upswing. 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