Last year, more than 66,000 companies went bankrupt in France

By Alimat Aliyeva

In 2024, the number of bankrupt companies in France reached its highest level since 2009, Azernews reports.

The annual report from the Group of Savings and People's Banks (BPCE) reveals that 66,422 business bankruptcies were registered last year, marking a 28 percent increase compared to 2019.

L'Observatoire, an economic research organization, attributes this surge in bankruptcies to several factors, including slowing economic growth, inflation, rising interest rates, and political uncertainty. These disruptions put approximately 260,000 jobs at risk in 2024.

The BPCE report further reveals that 56 percent of managers of small and medium-sized enterprises (SMEs) believe that political uncertainty has a significant impact on their operations. Additionally, half of the companies plan to delay investment projects, while 21 percent intend to cancel them altogether. This trend is expected to continue into the coming year, with the number of bankruptcies projected to rise to around 68,000 enterprises.

Among the companies that went bankrupt in 2024 were notable names like Duralex, Le Coq Sportif, and Caddie, highlighting the far-reaching impact of the economic challenges.

This troubling trend emphasizes the growing vulnerability of businesses in France, particularly SMEs, to global and domestic economic pressures. While some companies are struggling to survive, others are adapting to new market conditions by diversifying their operations, streamlining processes, or exploring international markets for growth. However, the overall economic outlook remains uncertain, making it crucial for both businesses and policymakers to find ways to foster stability and recovery.