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Failure of French companies to reach a floor? While they had been declining significantly for several years, they were almost unchanged in the second quarter. According to the company Altares, 12,750 insolvency proceedings were opened in France between March and June, a figure which was only 1.4% down on the same period of the previous year.
"We are no longer on a very clear improvement of the failures " notes Thierry Millon, director of studies of Altares. Over the last twelve months, however, the number of failures has reached 53,000, which is the level exactly 10 years ago, just before the financial crisis.
Return to the pre-crisis level
The French economy has therefore returned to the level of insolvency proceedings ( excluding micro-entrepreneurs) of the period just before the crisis but not yet the years that preceded it. "In 2007, France had recorded 50,000 business failures" recalls Thierry Millon. "It is not conceivable, however, to imagine that procedures can be reduced below this level in the coming quarters if the legal rules do not change" he warns.
"France knows for two years a marked dynamism of the creations of entr Today's failures are the creations of yesterday, Thierry Millon points out. Mechanically, every year, the equivalent of 15 to 20% of the companies created is the subject of a collective procedure. "
Since the level of start-ups is currently higher than in 2007, failures are more numerous than before. This is a bit of the ransom of success since, statistically, a third of creators do not blow their third candle. For the expert of Altares, it is even "rather healthy for an economy that there is a renewal of its productive fabric" .
Construction on the front line
In more detail , the number of insolvencies fell by 20% for companies with more than 100 employees compared to the second quarter of 2017. And the number of jobs endangered by these insolvency proceedings reached 39,800, 700 less than there were a year. On the other hand, in Ile-de-France, insolvencies climbed by 7.8%. Outside Ile-de-France, the decline reached 4%.
In the economic sectors, construction remains, with 3,300 judgments recorded this second quarter, stable compared to last year, the first responsible for failures, with a quarter of the procedures. The breakdowns in accommodation and catering increased by 2%. Transport and logistics also saw their number of backups, adjustments and liquidations jump by 13%. Fortunately, the failures in trade and industry have declined.
After a first half of the year in half-tone, Altares expects a number of business failures "close to 52,000 on the year 2018 " which would still be the best result since 2007.
Guillaume de Calignon
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