Shafaq News/ A report released on Thursday revealed that over 66,000 companies in France went bankrupt in 2024, marking the highest level in 14 years.

According to a report by BPCE Observatoire, more than 66,000 companies in France declared bankruptcy last year, the highest figure since 2009.

The report highlighted that 2024 was a record year, with 66,422 bankruptcies, a 28% increase compared to 2019, the year before the COVID-19 pandemic crisis.

The report also noted that "the total number of jobs at risk in 2024 reached 260,000."

Furthermore, it confirmed that 5,265 small and medium-sized enterprises (SMEs) declared bankruptcy in 2024, including the leading glass manufacturer Duralex and the sports brand Le Coq Sportif. The number of bankrupt SMEs increased by 51% compared to 2019.

The report attributed the surge in bankruptcies to factors including "economic slowdown, inflation, rising interest rates, and uncertainty surrounding economic policies."

Earlier, the French National Institute of Statistics and Economic Studies (INSEE) reported that France's external debt surpassed €3.3 trillion, reaching 113.7% of the country’s GDP.