2023-10-18 10:54:38
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Although the number of bankruptcies is down compared to the second quarter, the housing crisis and the drop in household consumption continue to push thousands of businesses to close their doors.
Published on 10/18/2023 12:54
Reading time: 1 min The Altares barometer predicts 55,000 business failures for 2023, a figure in line with the average of the last 20 years (photo illustration). (AURÉLIE LAGAIN / RADIO FRANCE)
Nearly 11,000 companies went bankrupt in the third quarter of 2023, between July and September, according to a barometer from the Altares firm, sector expert. This figure is up 23% compared to the same period in 2022. Bankruptcies are, however, down compared to the second quarter of 2023, between April and June, during which 13,200 companies went out of business.
Two sectors are particularly suffering from the economic situation: construction and commerce. The first alone represents a quarter of bankruptcies and is bearing the brunt of the housing crisis. The second suffers from household consumption, which has fallen as prices have risen. However, construction is not the only sector affected by the housing crisis. Real estate agencies are starting to feel the blow, and the Altares firm expects nearly 800 bankruptcies by the end of the year.
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On the other hand, he is less alarmist regarding clothing brands, home furnishings or even cafes and restaurants. The firm even estimates that consumption can rebound as quickly as it fell. All sectors combined, Altares forecasts 55,000 business failures for 2023, a figure in line with the average of the last 20 years.
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