The breakdown by country confirms a notable dispersion (Chart 2, see details in our country focus). In the Netherlands, corporate bankruptcies are almost half their historical average, while in Sweden they are almost double that level.
Two phases can be distinguished:
– An initial rise from 2022. It came earlier in some countries (i.e. the United Kingdom and Sweden) and pushed the number of bankruptcies to historic highs. In France, too, they have been reaching new highs since the end of 2024. The increase has been slower in Germany, Italy and the Netherlands, where the number of bankruptcies remains below the historical average. The increase continues in Germany and Italy and, to a lesser extent, in France, but at a more moderate pace.
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