According to Iberiform, a subsidiary of Crédito y Caución, Lisbon and Porto are the regions with the highest insolvency values, at 108 and 131 respectively.
Insolvency cases increased in January, reaching a total of 444 companies, an increase of 56%, meaning that there were 159 more insolvent companies than in the same period last year.
According to Iberiform, a subsidiary of Crédito y Caución, Lisbon and Porto are the regions with the highest insolvency values, at 108 and 131 respectively. Followed by Vila Real which recorded an increase of 400%, Castelo Branco by 200%, Angra do Heroismo, Santarem, Ponta Delgada, Braga, Faro, Viseu, Coimbra and Aveiro.
However, there are also regions that have seen a decrease in insolvencies, such as Portalegre, Évora, Viana do Castelo, Madeira, Leiria and Setubal.
In January, “82 insolvency declarations requested by third parties” were recorded, which represents an increase of 64% compared to the same period last year, mentioning “130 insolvency declarations submitted by the companies themselves and 227 insolvency declarations.” In a press release.
It was companies in the vehicle trading sector that recorded the largest increase in insolvency cases by 225%, followed by companies in the manufacturing sector, which increased by 102%, and hotels and restaurants, which witnessed an increase in insolvency cases by 95%. The agriculture, hunting and fishing sector is the only sector that showed a negative variance in January of 25%.
In January, company establishments decreased by 7.9%, with only 4,920 companies established. However, Lisbon was the region with the highest number of company formations, with 1,420, followed by Porto with 860 new companies in January.
The most popular sectors for establishing new companies were the extractive industries, telecommunications, construction, public works, and hotel/restaurant sectors.
