Greece reported a 35.9% quarterly increase in bankruptcy declarations in the first quarter of 2025, the highest in the European Union, new data from Eurostat has found.
Other countries to report a notable increase in bankruptcy declarations compared to the previous quarter (Q4 2024) included Sweden (+22.7%), Estonia (+20.4%), Romania (+12.2%) and Czechia (+9.9%).
In contrast, several countries reported a notable decline in bankruptcy declarations on a quarter-on-quarter basis, with Cyprus reporting a 70.0% decline, Malta a 66.6% decline, Latvia down 21% and Croatia down 19.9%. No data was available for one EU member state – Ireland.
Bankruptcy declarations across the EU
Overall, across the European Union, seasonally adjusted bankruptcy declarations in Q1 2025 decreased by 0.9% in the EU and by 2.2% in the euro area, compared with the final quarter of last year.
New business registrations were also down, by 5.1%, on a quarter-on-quarter basis, however they remain above pre-2021 levels. The highest increase in new business registrations were recorded in Cyprus (+9.8%), Lithuania (+8.9%) and Croatia (+4.2%), according to Eurostat. Read more here.
Quarterly Change in Bankruptcy Declarations – EU, Q1 2025 (%)
| Country | Change (%) |
|---|---|
| Greece | 35.9 |
| Sweden | 22.7 |
| Estonia | 20.4 |
| Romania | 12.2 |
| Czechia | 9.9 |
| Austria | 5.5 |
| Spain | 5.2 |
| Slovakia | 4.7 |
| Finland | 4.5 |
| Belgium | 2.5 |
| Slovenia | 2.0 |
| Poland | 0.9 |
| Denmark | -0.8 |
| Germany | -1.3 |
| Hungary | -1.3 |
| Bulgaria | -5.9 |
| Italy | -6.0 |
| France | -7.6 |
| Lithuania | -8.3 |
| Portugal | -10.8 |
| Luxembourg | -11.3 |
| Netherlands | -14.9 |
| Croatia | -19.9 |
| Latvia | -21.0 |
| Malta | -66.6 |
| Cyprus | -70.0 |
| Ireland | n/a |
