Bankruptcy companies fell in Galicia by 21.9% from April to June

The number of companies that submitted bankruptcy during the second quarter of this year, it rose to 1,073 statewide, 20.2% less than between April and June 2022, according to data provided by the College of Registrars. In the case of Galicia, there were fifty companies in such a situation, 21.9% less than between April and June last year.

Bankruptcy proceedings continue the downward trend since in the first quarter, also according to the data of the College of Registers, the number of bankruptcies decreased by 18.9% compared to the same period last year. However, the registrars point out in their note that in the last twelve months, from July 2022 to June 2023, 4,787 companies were declared bankrupt, 1.7 percent more compared to the accumulated figure of the previous year.

At the same time, during the second quarter of last year, establishment of new companies, with a total of 29,592. In the interannual calculation, 105,824 were created, 4.4 percent more. Observed by activity, there is a marked increase in the hotel and catering industry, which accounts for 11.8% of the total number of constitutions, with an interannual increase of 7.5%. It is followed by the construction market, which represents 14.5% of created companies and a growth of 5.6%.

The communities where more companies were founded were Valencia (21.7%); Andalusia (18.6) and the Canary Islands (12.5%), while the only decline was recorded in Navarre (6.2%); Galicia (4.5%) and Cantabria (3.5%).

According to the collegium of registers, 7,554 capital increases in the amount of 4,340 million were also recorded during the second quarter.