Analysis: 2021 Closes with 5,500 Bankruptcies Despite the Spanish Government’s Measures

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The impact of the pandemic on the productive fabric has caused that in 2021 a total of 5,496 companies in Spain have been doomed to bankruptcy, despite the fact that the government approved the granting of aid for companies affected by the pandemic and has kept the obligation for companies to present a tender when reaching a situation of insolvency and not being able to cope with debts, CVBJ.biz reported. This means that, despite the fact that companies do not have this duty to file for bankruptcy and can continue to operate despite their inability to pay debts, many of them have opted for this route in light of the situation they suffer. In fact, the volume of contests has grown by 31% compared to 2020, according to data published this Friday by the business information services firm Axesor. Of these companies in competition -whose financial situation has been frozen-, many will end in bankruptcy and liquidation, while others will get the suspension of your payments and they will move on. The bankruptcy moratorium supposes not only that companies are exonerated from the obligation to present tenders, but also that your creditors -that are without charge- They also cannot ask for a necessary contest to be declared. to be able to collect their debts, which leaves them in a certain position of helplessness. By autonomous communities, Catalonia autonomy has been the leader in competitions, with 1,373, 38.4% more than in 2020 (1,162 in Barcelona, ​​89 in Gerona, 32 in Lrida and 90 in Tarragona); closely followed by Madrid’s community, with 1,256 contests, 38.1% more. Read more.
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