Panorama
Insolvencies rise 58% in July; company creation falls 21%
In July, Portugal saw a significant increase in insolvencies, while the creation of new companies dropped considerably.
According to data released by Iberinform, there were 163 insolvencies declared in Portugal in July 2023, representing a 58% increase compared to the same month last year, when 103 insolvencies were recorded.
In the first seven months of the year, the total number of insolvencies also rose by 5.5% compared to the same period last year, reflecting a growing trend in insolvency actions throughout 2023.
In contrast, the creation of new companies in the country fell by 21% in July, totaling 3,695 new registrations, a decrease of 999 compared to the previous year.