Micro-enterprises accounted for 67% of total insolvencies between January and March. Porto and Lisbon are the most affected regions.
Source: Freepik
Author: Redaction
COSEC - Credit Insurance Company released on Monday data on insolvencies in Portugal, which skyrocketed in the first quarter of this year. According to the insurance company, the number soared 19.5% and it is micro-enterprises, that is, those that employ less than 10 people, who represent a larger share of the total (67%), between the months of January and March.
More than half of the insolvent companies, representing 52% of the total, have been in business for at least ten years, and it is in the large metropolitan areas that this trend is most evident, with Porto and Lisbon at the top of the analysis.
According to the data, it is in Porto that the largest number of insolvent companies (182 companies) and also the largest share of companies in default of their obligations are located. This is a 42% increase over the same period last year. Next is Lisbon, with 120 companies in this situation, which represents an increase of 34% compared to the first quarter of 2023.
Also during the first quarter period, it was the services sector that verified more insolvency situations, with 133 cases reported, followed by the textile sector, which changed position with the retail sector, and also the construction sector.
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