In April alone, there were 265 companies closing their doors, that is, 9.2% less compared to April 2022, according to data released this Monday by Crédito y Caución.

“Insolvencies in April decreased compared to the same period of 2022, with 265 insolvencies, a value that translates to a decrease of 9.2%. However, the declarations of insolvency required by third parties increased by more than 17% compared to the same period last year (41 more declarations for a total of 276), while the declarations submitted by the companies themselves rose by more than 15% (more 38 requests for a total of 294)”, it reads.

In cumulative terms, in the first four months of this year, 1,376 insolvencies of companies were registered in Portugal, which represents a drop of 5.6% compared to the 1,457 registered in the same period. Lisbon and Porto are the districts where most companies closed their doors, accounting for 23% and 21% of insolvencies, respectively, followed by Braga (12%), Aveiro (9%) and Setúbal (7%).

In turn, among the most affected sectors is the “other services” category, responsible for 21% of total insolvencies in accumulated terms in 2023. Followed by the manufacturing industry (20%), construction and works (17% ) and retail trade (12%).