September 2026: Sharp rise in corporate insolvencies

A dramatic spike, but not unprecedented

September 2026 figures reveal a sharp rise in the opening of collective insolvency proceedings: 5,999 judgments published in the BODACC, up from 2,852 in August 2026. This 110.3 % surge is dramatic, yet it follows the typical summer pattern, when insolvencies often dip before climbing again in September. For context, September 2025 saw 6,162 openings—a 2.6 % year-on-year decline. Over the last twelve months, the total remains stable (-0.3 %), with 76,284 openings compared to 76,522 a year earlier.

For business owners, this monthly spike does not necessarily signal an increased risk for their own company. Instead, it reflects a rebound after a quieter summer period. However, heightened vigilance for early warning signs—such as payment delays or cash-flow strains—remains essential, particularly in the most vulnerable sectors.

What insolvency figures reveal about sectors

The sectors hardest hit over the last 90 days are those with tight margins and heavy reliance on consumer spending:

• Trade and vehicle repair (2,412 openings)
• Construction (1,933 openings)
• Accommodation and food services (1,709 openings)
• Professional, scientific and technical activities (730 openings)
• Manufacturing (709 openings)

Business owners and buyers should assess whether these figures point to structural weaknesses or merely temporary adjustments. In construction, for example, delayed payments from public or private clients can destabilise firms already under cost pressure.

The regions most exposed: where to focus efforts

Over the last twelve months, three regions stand out for a significant rise in insolvencies:

• Auvergne-Rhône-Alpes (+4.4 %, 10,140 openings)
• Île-de-France (+2.1 %, 18,103 openings)
• Nouvelle-Aquitaine (+0.5 %, 7,628 openings)

Conversely, Provence-Alpes-Côte d’Azur saw a slight decline (-0.9 %, 6,700 openings). These variations reflect local economic dynamics and sector-specific factors. Directors and buyers should cross-reference this data with their own regional and sectoral context to prioritise their actions.

How to respond to a collective insolvency procedure

For business owners, the initiation of a collective insolvency procedure—whether safeguard, receivership or liquidation—is not inevitable. Key steps include:

• Assess the financial situation: Identify the root causes of insolvency (cash flow, profitability, debt) and evaluate potential levers for improvement.
• Seek professional advice: An accountant or insolvency specialist can clarify available options, such as a continuation plan, partial sale or other restructuring measures.
• Plan for impacts: Depending on the procedure type, creditors, suppliers and customers may be affected. Transparent communication is often critical.
• Consider a sale: If continuation is not viable, selling the business or its assets may help preserve value.

For buyers, these procedures can present opportunities, but they require rigorous due diligence. Liquidations may offer assets at reduced prices, yet hidden debts or disputes pose significant risks.

Few successful outcomes for safeguards and receiverships

Of the 3,129 safeguards and receiverships opened over the past twelve months, only 150 cases have a known outcome. The results are underwhelming: 2 sale plans, 0 continuation plans and 139 conversions into liquidation. These figures suggest that collective insolvency procedures rarely lead to viable recovery, except in very specific cases.

For buyers, this means opportunities via safeguards or receiverships are limited. It is often safer to target temporarily struggling but fundamentally sound businesses rather than those already in formal insolvency proceedings.

Practical steps to take

• Business owners: Use regional and sectoral data to identify risks and refine your strategy. A free financial analysis based on your FEC or balance sheet can help anticipate difficulties. Get a free analysis of your business.

• Buyers: Check the radar of struggling businesses to spot potential targets before they deteriorate further. Browse businesses for sale on our marketplace.

• Everyone: To understand how collective insolvency procedures work, explore the Business Failures Observatory for trend analysis.

September 2026 demands caution, but the figures should not paralyse action. Active monitoring and a sharp analysis of risks can turn a turbulent period into an opportunity.

Source: notices published in the BODACC (open data), Bilanea calculations. The full series are in the business failures observatory.

Article written with the assistance of artificial intelligence from the data of the Bilanea observatory and public sources, then checked automatically before publication.