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Türkiye recorded one of the fastest increases in corporate bankruptcies in 2025, as tight financing conditions and elevated borrowing costs continued to strain businesses, according to a report by Dun & Bradstreet.
Corporate insolvencies in the country rose by 29% compared to the previous year, placing Türkiye among the most affected economies in terms of bankruptcy growth. A total of 573 companies declared bankruptcy over the year.
The sharp rise in bankruptcies reflected persistent financial tightening, particularly for small and medium-sized enterprises. Limited access to credit and high real interest rates weighed heavily on company balance sheets, the report noted.
Globally, corporate bankruptcies increased by 7% in 2025, maintaining an upward trend but slowing significantly from the 15% rise recorded in 2024. Across 45 countries analyzed, insolvencies rose in 28 economies, while 17 saw declines. In total, 627,575 companies went bankrupt worldwide.
The report pointed to a gradual normalization in global economic conditions. Lower energy and food prices, easing inflation, and more predictable monetary policies helped stabilize financial conditions, slowing the pace of increase. Despite this, global bankruptcy levels remained above pre-pandemic levels, indicating that underlying risks persist.
Several countries recorded sharper increases than Türkiye. Argentina led with a 65% surge in bankruptcies, followed by Greece at 49% and Hong Kong at 45%. Saudi Arabia and Switzerland also saw notable increases, with insolvencies rising by 44% and 41%, respectively. In the United States, bankruptcies climbed by 26% in 2025, a significant jump from the 6% increase recorded in 2024.
Colombia recorded the largest decline, with bankruptcies falling by 71%. Indonesia, Belarus, Kazakhstan, India, Canada, the Netherlands, and Serbia also reported decreases ranging from 15% to 46%.
Construction, retail, hospitality, and services sectors accounted for a large share of bankruptcies across many economies. High interest rates, rising input costs, and weakening demand continued to erode profitability, particularly in construction.
Retail and service sectors, meanwhile, faced volatile consumer demand, rising operational costs, and limited pricing flexibility.
Dun & Bradstreet’s Chief Economist Arun Singh indicated that while 2025 marked a period of relative stabilization, risks could intensify again in 2026. Trade policy uncertainty, geopolitical tensions, and potential supply chain disruptions remain key concerns.
Companies with high debt levels and reliance on short-term financing may face increasing refinancing pressure, raising the likelihood of financial distress in the period ahead, he added.
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