Bankruptcy filings accelerate sharply in EU in Q3

In the third quarter of 2022, the number of applications for bankruptcy in the EU increased by 16.3% compared to the second quarter, which was the fifth consecutive quarter when this figure grew, according to Eurostat data. The largest growth in the number of bankruptcies was registered in such sectors as “housing services and food” (+24%), “financial and insurance activities” (+17.8%) and “industry” (+16.2%). The information and communications sector showed the smallest increase in the number of bankruptcies (+1.6%). The only sector that showed a decrease in the number of bankruptcies is “transportation and storage” (-5.4%), the service says.

The largest increase in the number of bankruptcies compared to Q2 among all EU countries is observed in Hungary (+110.6%), Spain (+66.1%) and Lithuania (+4%). The largest declines in bankruptcy filings were recorded in Romania (-36.1%), Cyprus (-32.7%) and Estonia (-21.3%).