Insolvencies and Out-of-Court Restructuring Procedures in Italy - Q1 2025

After years of steady decline, business bankruptcies in Italy are on the rise once again: from 565 cases in 2023, the lowest level in recent decades, to 1,761 in 2024, marking a 312% increase, despite the mitigating effect of the Out-of-Court Restructuring Procedure. The first quarter of 2025 confirms this upward trend, with 1,046 new filings: in just three months, the number o f proceedings already accounts for 59% of the previous year’s total. The regions most affected are Veneto, Lazio, and Campania. At the sector level, the most significant increases are observed in wholesale and retail trade, construction, and manufacturing. Corporations and companies with less than ten years of activity are particularly impacted. This surge in bankruptcies reflects the ongoing economic pressures faced by businesses, stemming from both structural and cyclical factors such as limited access to credit, rising energy costs, and geopolitical instability. These conditions place Italian companies in a highly challenging environment, where the ability to rapidly adapt to sudden changes is critical.

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