Global company bankruptcies rose in 2025: risks persist

The "2025 Global Insolvency Report" published by Dun & Bradstreet shows that corporate bankruptcies continue an upward trend globally. According to the report, global corporate insolvencies rose by 7% in 2025, with a slowdown in the rate of increase compared to the previous year.

Growth continues, pace slows
According to the report, the bankruptcy increase rate recorded at 15% in 2024 declined to 7% in 2025. This situation points to a partial stabilization in the global economy, while it was emphasized that insolvency levels remain above pre-pandemic levels.

According to Dun & Bradstreet data, insolvencies increased in 28 of the 45 countries examined (62%), while 17 countries experienced declines. In 2025, a total of 627,575 companies filed for bankruptcy.

The decline in energy and food prices, easing inflation pressure and central banks' monetary easing measures contributed to the slowdown in the rate of bankruptcy increases.

Insolvencies in Turkey rose 29%
According to the report, corporate insolvencies in Turkey showed a 29% increase in 2025. While a total of 573 companies are reported to have filed for bankruptcy, the main reasons behind this increase included a high real interest rate environment, difficulties in credit access and tight financial conditions.

It was noted that financing pressure on SMEs in particular was felt acutely.

Highest increase in Argentina
The highest bankruptcy increase by country was recorded in Argentina at 65%. Argentina was followed by Greece at 49%, Hong Kong at 45%, Saudi Arabia at 44% and Switzerland at 41%.

In the United States, insolvencies rose 26% in 2025 following limited increases in 2024.

Declines noted in some countries
According to the report, insolvencies declined in 17 countries. The strongest decline was seen in Colombia at 71%, while double-digit declines were recorded in countries such as Indonesia, Belarus, Kazakhstan, India and Canada.

Sectoral risks persist
It was noted that bankruptcy pressure concentrated particularly in construction, retail, accommodation and service sectors.

High interest rates, cost inflation and demand fluctuations continue to put pressure on corporate balance sheets in these sectors. In large economies, manufacturing and service sectors are also at risk due to weakening demand.

"Growth slowed but risks continue"
Dun & Bradstreet Chief Operating Officer Julian Prower noted that 2025 marked a turning point in bankruptcy trends, emphasizing that while the rate of increase has slowed, risks persist.

Prower stated that companies need to strengthen data-driven approaches in their risk management processes, highlighting the importance of artificial intelligence-supported analytics, supplier diversification and scenario planning.

Warning for 2026: Risks could rise again
Dun & Bradstreet Chief Economist Dr. Arun Singh stated that while economic conditions improved somewhat in 2025, this situation may not be permanent.

Singh warned that in 2026, bankruptcy risks could rise again due to uncertainties in trade policies, geopolitical risks and tightening financing conditions.