Authors note: This post was updated to be current on 8/13/18
Creditreform is an international business credit information provider with offices in 21 European countries and China. They provide credit reports on over 30 million businesses and are a Business Credit Reports partner.
Each year, Creditreform’s Economic Research Unit publishes its long-running anticipated report on business insolvencies in Europe. The survey examines corporate stability in Europe with regard to insolvency and the threat it represents.
The 2017 report shows that corporate insolvency in Western Europe is still declining and is the lowest it has been since 2008. In 2017, Western European companies filed bankruptcy 164,181 times, a 4.2% decrease over 2016. The biggest contributors to the decrease were Netherlands (-25.2%), Ireland (-15.3%) and Portugal (-12.7%). While the overall trend was still positive, six countries exhibited increasing insolvency rates, led by Greece (+11.1%), the Belgium (+8.7%) and Sweden (+6.2%).
In Central and Eastern Europe, there was a substantial decrease of -12.8% to a total of 86,879, down from 99,629. The biggest contributors to the decrease were Croatia (-42.9%), the Czech Republic (-26.0%) and Macedonia (-22.0%). There were six countries that showed an increase in insolvency rates, with Lithuania (+11.9%), Slovenia (+4.6%) and Romania (+2.5%) being the highest.
You can download the full report, which describes the drivers of these numbers and breaks them down by industry, along with other financial metrics, on the Creditreform website.