The number of companies that declared insolvency increased 14% in the first half of the year with a total of 384 bankrupt companies, 85 more than in the same period in 2022.
For the period, mandatory applications for bankruptcy increased 14% on H1 2022 while applications presented by companies themselves increased 5.5% according to data from Iberinform.
In June there was an increase in bankruptcies with 384 companied registered as insolvent, 85 more than in the like-for-like period in 2022. Even with this increase in the number of companies in the first quarter of the year they were less than those registered for the same period of the year, with a total of 2,055 bankruptcies.
Lisbon saw the highest number of bankruptcies, with 483, followed by Porto with 440. Angra do Heroísmo in the Azores saw the greatest increase in insolvencies in the first half of the year with a growth of 125% on 2022, followed by Vila Real with a growth of 53%.
As to sectors, bankruptcies in transport were up 12%, construction and public works up 6.2% and services up 5.1%.
When it came to registering new companies, these fell in June by 13% on the same period in 2022, with 3,133 companies, 475 fewer companies than for the same period in 2022. In relation to the first half of 2023 here was an increase by 6% in newly registered companies with a total of 27,034 new companies.