According to Statec’s latest report, published on 21 October, the number of cases year-on-year decreased by 21%, with numbers going below levels recorded in 2018 and 2019.

Over the same time period, 573 judicial liquidations took place too, 25% fewer than during the first months of 2021. Holdings and investment funds were most likely to be liquidated (45.2% of all recorded liquidations) or declare bankruptcies (26.2%), followed by retail companies (16.1% of all liquidations and 20.1% of bankruptcies).

Bankruptcy occurs after a company can no longer pay its debts or meet its commitments. Judicial liquidation refers to the procedure of cessation of activity or dissolution of the company, which can happen after a bankruptcy for example.