The Return of Bankruptcy in Spain: 5.8% Increase in 2025 Without Losing Business Activity, According to Experian.

The business ecosystem in Spain has shown remarkable activity so far this year, with a total of 93,530 new companies established, of which 8,631 were founded in September. This past month has been highlighted as the period with the lowest number of company dissolutions in 2025, suggesting a slight slowdown in business closures.

Recent data from the Business Radar for Bankruptcy and Demographics, compiled by Experian, indicates that bankruptcy has increased by 3.17% in September, with 554 bankruptcy proceedings compared to 537 in the same month last year. In total, during the first nine months of 2025, there have been 4,539 bankruptcy filings, representing a 5.8% increase compared to the same period in 2024. The commerce sector, both wholesale and retail, along with vehicle repair, remains the most affected, accumulating 1,152 cases, followed by construction and manufacturing.

Geographically, Catalonia tops the list with 1,177 bankruptcies, marking an 8.3% growth compared to the previous year. Madrid ranks second with 981 cases, followed closely by Valencia with 617.

In terms of business formation, the commerce sector retains its dynamism, although it has experienced a 6.4% decline compared to last year, with 15,151 new companies founded. On the other hand, the construction sector has seen a growth of 12.3%, while real estate activities have increased by 12.2%. Madrid stands out again as the region with the most new companies created, reaching 20,955, closely followed by Catalonia and Andalusia.

September has solidified itself as a favorable month for business creation, despite a slight rise in the number of dissolutions, with 3,477 companies closing in that month, a figure that nonetheless marks the lowest number to date. Throughout the year, business closures have totaled 45,220, representing an increase of 1.5% compared to the same period last year.

In conclusion, while bankruptcy and dissolutions show an upward trend, the increase in new company formations suggests a mixed outlook. Despite the challenges facing the market, business optimism appears to remain strong.