The month of January 2026 ended with 407 companies declared insolvent, 91 more compared to January 2025, an increase of 29% and the highest figure in the last three years.
Most of the growth comes from orders submitted by third parties, which rose 46% (43 more companies). Voluntary declarations by companies themselves increased by 16% (15 more companies). In the same month, 211 insolvency proceedings were closed — 29 more than in 2025 — and seven insolvency plans were registered, four more than in the same period last year (an increase of 57%), reveal the latest data released by Iberinform, a subsidiary of Crédito y Caución.
Geographically, Porto and Lisbon concentrate the highest number of insolvencies, with 108 and 89 cases respectively, corresponding to year-on-year variations of +52% in Porto and +27% in Lisbon. The biggest percentage increases were seen in Madeira (+600%), Bragança (+150%), Faro (+113%), Ponta Delgada (+100%), Viseu (+75%), Santarém (+64%) and Braga (+24%). Conversely, Castelo Branco recorded the biggest drop (-78%), followed by Beja, Portalegre, Vila Real and Angra do Heroísmo, all with declines of 50%.
By industry, Hotels and Restaurants doubled the number of insolvencies (+100%). Also noteworthy are increases in Wholesale Trade (+45%), Other Services (+41%) and Retail Trade (+33%). The most relevant declines occurred in the Extractive Industry (-50%) and in Agriculture, Hunting and Fishing (-11%).
In the chapter on constitutions, January 2026 registered 4,161 new companies, 1,240 fewer than in January 2025, a drop of 23%.
Lisbon and Porto remain centers for business creation, with 1,289 and 678 incorporations, respectively, but both are in annual decline (-20% in Lisbon; -24% in Porto). No district showed an increase in constitutions and the biggest percentage decreases occurred in Ponta Delgada and Bragança (-44% each), Angra do Heroísmo (-38%), Vila Real (-37%), Madeira (-36%), Viana do Castelo (-33%) and Beja (-33%).
By sectors, only the Electricity, Gas and Water sector recorded growth in constitutions (+75%). The steepest falls were seen in Telecommunications (-75%), Agriculture, Hunting and Fishing (-42%), Hotels and Restaurants (-38%), Retail Trade (-37%) and Transport (-36%).
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