French business bankruptcies surge in the third quarter

International Business News – The number of corporate bankruptcies in France rose sharply in the third quarter of this year, but is still better than the pre-epidemic level, the Echo reported on Oct. 11. According to research firm Altares, the number of corporate bankruptcies in France increased by 70% in the third quarter, and the cumulative number of bankruptcies in a year exceeded 38,000 for the first time since the epidemic, compared with 34,200 at the end of June.

Altaire believes that, thanks to the “whatever it takes” policy, the number of corporate bankruptcies in France in the summer of 2021 is at its lowest level in 25 years, and the year-on-year surge this quarter is a catch-up effect.

The French Ministry of Economy and Finance said that although the number of corporate bankruptcies has increased recently, it is still far below the figure of 53,500 in 2019. The governor of Banque de France also did not consider the current situation to constitute a major warning. In response, Altaire took a more cautious view, saying that while the current situation is still normal, a domino effect cannot be ruled out.