Publication date
In the first half of 2026, 3,382 insolvency proceedings and 17,436 dissolutions were recorded in Spain, according to the data on Insolvency proceedings and dissolutions compiled by INFORMA. These figures represent a 5% decline and a 12% increase, respectively, compared with the same period in 2025.
Of the total insolvency proceedings initiated during these six months, 74% corresponded to insolvency filings, 2,495, down 5% year over year. Restructuring plans totalled 118, around 3% of the total, down 11%. A total of 769 special procedures for micro-enterprises were recorded, 23% of the total, down 7% compared with 2025.
The smallest companies, micro-enterprises, accounted for the bulk of insolvency filings initiated in June, at around 77%. Small businesses represented nearly 19%, medium-sized businesses close to 4% and large corporations 1%. As for restructuring plans filed in June, micro-enterprises accounted for 50% of the total and small and medium-sized businesses 25% each, with no large corporations recorded this month.
Nathalie Gianese, Director of Research at Informa D&B, notes: “In the first half of 2026, insolvency proceedings fell 5% to 3,382, with declines seen across all three existing types of procedure”.
In June, the number of insolvency filings fell 15% compared with May, to 402, and was down 11% compared with the same month in 2025. In addition, only 4 restructuring plans were recorded, the lowest figure since this type of procedure was created and 82% below June last year. Special procedures for micro-enterprises reached 118, down 17% from May and 15% lower than June 2025.
Insolvency proceedings for the month totalled 524, 15% below the figure for June 2025. Dissolutions in June rose 0.3% from May and 14% compared with the same month a year earlier, to 2,181.
Companies involved in insolvency proceedings in June employed a workforce of 7,737 workers, with sales of €851 million. Those dissolved this month had 10,955 employees and combined revenue of over €1.556 billion.
Cumulative insolvency filings in the first half fell in most sectors. The largest declines were recorded in Trade, down 52, Construction and Real Estate Activities, down 39, and Manufacturing, down 35. Hospitality, up 27, and Education, up 17, posted the most notable increases. Trade led insolvency filings year to date, with 586, 23.5% of the total, followed by Construction and Real Estate Activities, with 460, and Manufacturing, with 346.
For restructuring plans, Manufacturing topped the cumulative total with 42, 35% of the total, followed by Business Services, with 20. As for special procedures for micro-enterprises, Trade accounted for 162, ahead of Construction and Real Estate Activities, with 139.
As a result, Trade accounted for 23% of the insolvency proceedings recorded during the half-year, 764, and Construction and Real Estate Activities 18%, 618, down 12% and 4% respectively. Manufacturing totalled 466 proceedings, close to 14% of the total, down 5%.
In June, Trade and Construction and Real Estate Activities led insolvency filings with 90 and 81, followed by Hospitality with 53. Restructuring plans for the month were split between Manufacturing (2), Construction and Real Estate Activities (1) and Trade (1), while special procedures for micro-enterprises were led by Trade with 27.
The highest figures for dissolutions in the first half were recorded in Construction and Real Estate Activities, 4,284, up 10%, Trade, 3,399, up 14%, and Business Services, 2,690, up 6%. The only sector where cumulative figures fell was Agriculture, down 8%, while the largest increase in absolute terms corresponded to Trade, up 427, followed by Construction and Real Estate Activities, up 396. In June, the same sectors led dissolutions, with 550, 434 and 331 respectively.
Catalonia recorded the highest number of insolvency filings year to date, 31% of the total, with 763, down 8% from 2025, followed by Madrid with 371, up slightly, and Andalusia, with 319, up 6%.
For restructuring plans, Catalonia was again the leading region, with 25, 14% below the previous year, while Madrid recorded 15, down 6%. The latter also accounted for 317 special procedures for micro-enterprises during the half-year, 41% of the total, exceeding the 138 in the Valencian Community.
Cumulative insolvency proceedings were concentrated mainly in Catalonia, with 877, and Madrid, with 703, down 6% and 9% respectively. Together, they accounted for 47% of the total.
In June, Catalonia was the region with the most insolvency filings, with 118, while the 4 restructuring plans were split between Andalusia, Castile and León, the Valencian Community and Madrid. The latter led special procedures for micro-enterprises with 46, close to 39% of the monthly total.
As for dissolutions, Madrid accounted for 25.5% of the total cumulative figure, 4,440, adding 337, the second-largest increase in absolute terms, surpassed only by the 446 added by Andalusia, which ranked second by number with 2,901, followed by the Valencian Community with 2,066. In June, dissolutions reached 621 in Madrid, 331 in Andalusia and 247 in the Valencian Community. Across the half-year, figures fell in two territories: the Basque Country, down 3.5%, and Melilla, down 68%.
