Highest toll in 14 years: 66,000 companies go bankrupt in France
Shafaq News/ A report released on Thursday revealed thatover 66,000 companies in France went bankrupt in 2024, marking the highestlevel in 14 years.
According to a report by BPCE Observatoire, which Shafaq News reviewed, morethan 66,000 companies in France declared bankruptcy last year, the highestfigure since 2009.
The report highlighted that 2024 was a record year, with 66,422bankruptcies, a 28% increase compared to 2019, the year before the COVID-19pandemic crisis.
The report also noted that "the total number of jobs at risk in 2024reached 260,000."
Furthermore, it confirmed that 5,265 small and medium-sized enterprises(SMEs) declared bankruptcy in 2024, including the leading glass manufacturerDuralex and the sports brand Le Coq Sportif. The number of bankrupt SMEsincreased by 51% compared to 2019.
The report attributed the surge in bankruptcies to factors including"economic slowdown, inflation, rising interest rates, and uncertaintysurrounding economic policies."
Earlier, the French National Institute of Statistics and Economic Studies(INSEE) reported that France's external debt surpassed €3.3 trillion, reaching113.7% of the country’s GDP.
