Insolvencies have been increasing in Portugal this year, with a year-on-year growth of 5.1% in the total number of declared insolvency proceedings recorded at the end of August. The Iberinform data shows that insolvencies requested by third parties increased by 7.1%, while those filed by the companies themselves grew by 3.1%. In August, 96 insolvencies were declared, one more than in the same month last year, and in the first eight months of the year, 619 insolvency proceedings filed by the companies themselves were recorded.
Lisbon concentrates the highest number of declared insolvencies, with 271, followed by Porto with 242 and Braga with 154. In terms of growth, Aveiro, Setúbal, Faro and Leiria stand out. The sector most affected by the worsening of insolvencies is Hospitality and Catering, with a rise of 36.2%, followed by other services with an increase of 15% and the construction and public works sector with 13%.
During the month of August, the number of companies incorporated recorded a drop of 8.85%, with only 3,151 new companies created. Lisbon leads company creation, with 11,127 incorporations, followed by Porto with 6,447 and Setúbal with 2,904.
