Insolvency may hit 2,200 companies in Brazil this year and increase in 2022

The number of company insolvencies in Brazil could close the year with a 6% increase and surge 32% in 2022, according to global leader in credit insurance Euler Hermes' projections.

RIO DE JANEIRO, BRAZIL - In 2019, the number of insolvent companies in Brazil reached 2,887, dropping 28% to 2,078 last year. But this year the figure is expected to rise to 2,200 and jump to 2,900 next year.

Euler Hermes' Head of Insolvency Research Maxime Lemerle notes that Brazil has so far failed to reverse the upward trend in insolvencies through 2021, but instead registered stabilization at a low level.

He notes that despite highly volatile monthly figures, corporate insolvencies reached 1,318 cases from January through August this year compared to 1,391 in the . . .

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