The impact of the pandemic in the productive tissue has caused that in 2021 a total of 5,496 companies have been aboccaded to the creditors' contest, despite the fact that the Government approved the granting of aid for companies affected by the pandemic and has kept suspended all The year the obligation for companies to present a contest by reaching a situation of insolvency and not being able to deal with the debts.
This means that, despite the fact that the companies do not have that duty to declare themselves in a contest and can continue to operate despite their inability to pay debts, many of them have opted for this way to the situation they suffered. In fact, the volume of competitions has grown by 31% compared to 2020, according to the data published this Friday by the business information services firm Axesor.
Of these companies in Contest - whose financial situation has been frozen -, many will end bankruptcy and liquidation, while others will achieve the suspension of their payments and will continue to go.
The Bankruptcy Moratory supposes not only that companies are exempt from the obligation to present competitions, but their creditors - who are unklined - they can not ask for a necessary contest to be able to be declared, which leaves them in some Position of helplessness.
By Autonomous Communities, Catalonia has been the leading autonomy in competitions, with 1,373, 38% more than in 2020 (1,162 in Barcelona, 89 in Gerona, 32 in Lérida and 90 in Tarragona); Followed very closely by the Community of Madrid, with 1,256 contests, 38.1% more.
Regarding the sectors of activity, trade companies - either wholesale as retail - and vehicle repair were those that had greater difficulties, with a total of 1,090 companies that declared a contest.
Construction is followed, with 837 contests, and hospitality, with 801. This last sector was the one that suffered the greatest increase in the number of competitions compared to 2020, of 85.8%, as well as the water supply, activities Sanitation, waste management and decontamination, where competitions grew by 77.7%.
The bankruptcy, which has not been applied in other countries in Europe, will remain in force until June 30, 2022, with the aim that "viable companies under normal market conditions have legal instruments that allow them to maintain their activity and Employment and have an additional margin to restore its patrimonial balance, "the executive explained by extending Law 16/2020.
This extension, however, raises risks that have been very criticized by the bankruptcy and institutions such as the Bank of Spain.
Some examples are the possibility that there is a judicial collapse on the day to eliminate the moratorium, or that companies are not taking sufficient measures to guarantee their survival and therefore increase the number of zombies companies in the country.
"The bankruptcy, if prolonged over time, can contribute to a higher survival rate of unavoidable companies, which, in the absence of certain financial support measures (banking refinancing or new credit of their contractual counterparts), would disappear in a brief Deadline. In the economic literature, these companies are called zombies frequently, "said the supervisor by knowing the extension of this measure.Updated Date: 07 January 2022, 05:52