Business failures remain high in France

The number of business failures in France remains at an "unprecedented" level, though the rapid increase has slowed, according to a study by the Altares firm. Between July and September 2026, 14,652 collective procedures were opened, compared to 14,583 a year earlier, marking the smallest increase since the end of the health crisis.

Rate of increase has slowed

Thierry Millon, director of studies at Altares, noted that the rate of increase has slowed significantly and the surge in business failures seems to have passed. However, the number of affected businesses remains at an unprecedented level, with concerns particularly for sectors dependent on household budget decisions.

Record number of failures in 12 months

Over a 12-month rolling period, the number of failures now reaches 72,000, a record. Direct judicial liquidations have slightly decreased by 1.2% (9,744 judgments) compared to last year, while judicial rehabilitations have increased by 4.2%, to 4,576 cases. Safeguards remain marginal, with 332 openings, a decrease of 0.6%.

Social impact of business failures decreases

The social impact of business failures is also decreasing, with 50,510 jobs threatened in the third quarter, a 2.9% decrease from the previous third quarter. The smallest and youngest structures remain the most exposed, with businesses having fewer than three employees totaling 10,960 procedures, an increase of 2.9%, or three-quarters of the failures recorded this summer.

Sectoral performance varies

On a sectoral level, construction shows signs of improvement with a decrease in failures of 3.1%, while the manufacturing industry records a decrease of 11.8%. Transport is also slightly turning green, with a decrease of 1.6%. Conversely, the hotel and restaurant industry remains heavily deteriorated, with failures increasing by nearly 10% in restaurants and more than 30% in accommodation. Local retail and services, dependent on household consumption, continue to suffer.

Regional performance varies

In terms of regions, the strongest deteriorations are observed in the Pays de la Loire (+18.4%) and Brittany (+11.4%). Several large regions are however turning green, including Provence-Alpes-Côte d'Azur (-5.5%), Normandy (-11.9%), Nouvelle-Aquitaine (-5.3%), and Grand Est (-4.9%).