Bankruptcy filings fall by 5% in Spain, but business dissolutions soar by 12%.

Health of the Spanish Business Sector

Bankruptcy proceedings in Spain fell by 5% in the first half of 2026, but company dissolutions increased by 12%, according to a study by INFORMA D&B. This dual scenario reveals a business landscape that, while avoiding formal insolvency, is increasingly opting for the definitive cessation of activity.

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The Spanish business landscape presents a double face: fewer formal insolvencies, more permanent closures.

In the first half of 2026, Spanish businesses registered a 5% drop in insolvency proceedings, but an alarming 12% increase in dissolutions, according to the latest study by INFORMA D&B S.A.U. (S.M.E.), a subsidiary of Cesce. This analysis, based on data up to June, reveals a complex dynamic where companies avoid formal insolvency, which includes bankruptcy proceedings, restructuring plans and special procedures for micro-enterprises, but increasingly opt for definitive closure.

In total, 3.382 insolvency proceedings were initiated, compared to 17.436 dissolutions. The economic impact of these figures is considerable: the companies that filed for insolvency in June had a combined turnover of €851 million and 7.737 employees, while those that were dissolved had sales of €1.556 billion and employed 10.955 people.

According to his assessment Nathalie Gianese, Director of Studies at Informa D&B"In the first half of 2026, insolvency proceedings will decrease by 5% to 3.382, with the drop being noticeable in all three types of existing proceedings."

Detailed analysis of insolvency proceedings

The reform of the Spanish Insolvency Law 16/2922, which transposed European Directive 2019/1023, introduced new mechanisms for managing insolvency. However, data from the first half of 2026 show a general decline in their use. Of the 3.382 proceedings, the bankruptcy proceedings Traditional methods accounted for 74% of the total, with 2.495 cases, 5% less than in 2025. special procedures for micro-enterprises They totaled 769, down 7%, while the restructuring plans They fell 11% to 118, reaching their lowest figure since their creation in June with only 4 cases registered.

The sector of Stores It is the one that concentrates the largest number of insolvency proceedings (764), followed by Construction and real estate activities (618) and Industry (466). However, it is in Commerce where the greatest decrease in insolvency proceedings occurs in absolute terms, with a decrease of 52 proceedings.

Evolution of Insolvency Proceedings and Dissolutions (First Half 2026 vs 2025)

Type of Procedure	Total 1st Semester 2026	Variation vs 2025
Total Bankruptcy Proceedings	3.382	-5,32%
Tenders	2.495	-4,59%
Restructuring Plans	118	-11,28%
Special Procedures for Microenterprises	769	-6,67%
solutions	17.436	+ 11,68 %

Catalonia and Madrid: Hubs of insolvency activity and dissolutions

Geographically, the activity is concentrated in the country's two largest economies. Cataluña It leads in the number of insolvency proceedings (763) and restructuring plans (25). Meanwhile, Madrid It leads in special procedures for micro-enterprises (317, 41% of the national total) and is also the region with the most dissolutions (4.440, 25,5% of the total). Both regions registered decreases in the total number of insolvency proceedings, with a 6% drop in Cataluña and 9% in Madrid.

On the solutions side, the growth is widespread. The largest increase in absolute value occurs in Andalucía, which totals 446 dissolutions, followed closely by Madrid, with 337 more. Only the País Vasco y Melilla They recorded a decrease in the number of business closures.

Main Companies Affected in June 2026 by Sales Volume

Type of Procedure	Company name	Sales (€)	Sector (CNAE)
Competition	CARNICAS CHAMBERI SL	69.036.283	Wholesale trade of meat and meat products
Restructuring Plan	LANGUS SEAFOOD SL	21.963.345	Processing of fish, crustaceans and mollusks
Special Procedure	GARDIMAR SL	2.531.912	Construction of residential buildings
Dissolution	PAPRESA SL	133.009.395	Paper and cardboard manufacturing

Key points and frequently asked questions about the insolvency situation in Spain

How does this duality of fewer insolvency proceedings and more dissolutions affect my exporting company?

For a company with international operations, this scenario demands enhanced monitoring of the customer and supplier portfolio in EspañaA business partner might not file for bankruptcy but could opt for dissolution, which would still disrupt the supply chain and potentially lead to payment defaults. It is crucial to have business risk analysis tools and credit insurance that cover not only formal insolvency but also business closure.

Which sectors and regions present the greatest risk or dynamism?

The sectors of Stores y Construction and real estate activities These are the areas with the highest number of incidents, both in bankruptcy proceedings and dissolutions, making them areas of greater credit risk. Geographically, the activity is concentrated in Madrid, Cataluña y AndalucíaHowever, the growth of solutions in regions such as Canarias (+38%) should also be a point of attention for companies with interests there.

What are the implications of the decline in the use of restructuring plans?

The drastic reduction in the use of restructuring plans, especially in June, suggests that struggling companies are not finding this tool a viable solution to avoid insolvency or are simply opting for dissolution. This could indicate a lack of viability in the affected business models or skepticism about the effectiveness of these pre-bankruptcy mechanisms in saving the company in the long term.