The impact of the economic crisis in the textile sector during 2009 is becoming clear.  Yesterday, PricewaterhouseCoopers made public its final Bankruptcy Schedule for 2009, leaving the textile as one of the most affected sectors.

A total of 145 textile companies filed bankruptcy protection in 2009, representing an increase of 52.64% over 2008. This is the eighth sector that has used this formula in 2009, behind the building (with a total of 1,318 bankruptcy cases), individuals (1,118), industry (771) Real Estate (685), distribution (586) services (523) and transport (148).

Despite the increase in the number of insolvency proceedings (the old suspension of payments), the textile has reduced his weight in the total. While in 2008 there were 95 cases which accounted for 3.3% of the total, in 2009 the sector counted for 2.48% of the 5,860 bankruptcies in Spain. In 2007 there were 42 textile bankruptcies, a total of 1,025 cases. 

Throughout 2009, many companies and even companies with a large history in the textile sector, as Dogi Pulligan, have resorted to bankruptcy protection being unable to cope with their debts. The Torero store chain, the Valencia company Dimas and shoe maker Muxart have been other companies that have filed Bankruptcy in 2009.

In Spain as a whole and taking into account all sectors, a total of 5860 cases have been filed in court. This figure, representing a growth of 104% compared to 2008, exceeds the amount of the years 2005, 2006, 2007 and 2008.

Geographically, the Mediterranean and cetral Spain remain the most active in filing bankruptcies. Only the provinces of Barcelona, Madrid and Valencia have counted for 42% of the dossiers submitted in 2009.