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Construction and Real Estate Services, the Hardest Hit by Bankruptcy Proceedings in May

In May, 162 bankruptcies and 506 company dissolutions were recorded in Spain, down by 56% compared to May 2019 but up by 295% compared to April, according to Informa D&B.

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Photograph: David Vicente.

The figures recorded reveal that the number of bankruptcies fell by 56% in May 2020 compared to the same month in 2019 but were 295% higher than in the month of April. Company dissolutions during the month fell by 74% YoY and were below the 557 recorded in April.

Nathalie Gianese, Director of Studies at Informa D&B comments that “April was the month in which the fewest bankruptcy proceedings were registered in Spain, with just 41, due to the State of Emergency. But, in May the courts resumed their activity and so the number of bankruptcies increased by 295% to reach 162”. In this context, it is worth noting that Royal Decree-Law 8/202, on the occasion of COVID-19, indicates that while the State of Emergency is in force, any debtor who is insolvent does not have a duty to file for bankruptcy.

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