Approximately 23,900 companies are expected to file for bankruptcy in 2025, an 8.3% increase from 2024 and the highest figure since 2014, according to a report by credit agency Creditreform.

This year’s increase in insolvencies has been driven by a rise in cases among smaller companies, with micro-enterprises, of up to ten employees, accounting for the largest share - 81.6% this year, marginally higher than in 2024.