Spain: The number of bankrupt debtors increases its annual rate by 14.6% in the fourth quarter of 2019

Spain. During the fourth quarter of 2019, the number of bankrupt debtors reached 1,979 representing a 14.6% increase, as compared with the same period of the previous year (figures released by Spanish Statistical Office, INE).

By type of bankruptcy, 1,855 were voluntary (14.0% more than in the fourth quarter of 2018) and 124 were necessary (24.0% more). According to process type, abbreviated processes increased by 16.0%, while the ordinary processes did not experience variation.

Evolution of the quarterly rate

To contribute to the analysis and interpretation of the data, the following chart shows the variation of the number of bankrupt debtors between the third and the fourth quarter in the last

five years. In 2019, the quarterly rate was 43.0%.

Bankrupt companies by legal nature and turnover bracket

Among the 1,979 bankrupt debtors in the fourth quarter, 1,280 were companies (natural persons with business activity and legal persons), and 699 were natural persons without

business activity, representing 64.7% and 35.3%, respectively of the total debtors.

In the fourth quarter of 2019, the number of companies declared bankrupt increased by 12.2%, as compared with the same period of the previous year.

By legal nature, 78.1% of bankrupt companies were Private Limited Companies. 36.5% of bankrupt companies were within the lowest turnover bracket (up to 250,000 euros) and were mainly Private Limited Companies.

Bankrupt companies by legal nature and turnover bracket 80.6% of the companies declaring bankruptcy in 2019 were Limited Liability Companies.

34.4% of companies declared bankrupt were within the lowest turnover bracket (up to 250,000 million euros) and were mainly Limited Liability Companies.