Andrea Innocenti The Italian business landscape has shown warning signs as 2025 draws to a close. Data compiled by Eurispes, based on information provided by Unioncamere and the Cribis survey, show a significant increase in both judicial liquidations and other forms of business crisis . This phenomenon indicates that the national productive fabric is experiencing a period of considerable fragility, with implications that extend far beyond the individual entrepreneur.
Increase in bankruptcies and total crises in 2025
According to statistics, judicial liquidations reached 9.869 by the end of 2025, a 7,2% increase compared to the previous year. Considering all types of corporate crises, the total number rises to 13.470, an even more significant increase of 15,5% year-over-year.
A worrying statistic is the percentage of new businesses that close within their first two years of operation: nearly 20% of startups fail in this short period of time, demonstrating the intrinsic vulnerability of the national economic system.
Recourse to negotiated settlement procedures and simplified settlement agreements
In parallel with the increase in bankruptcies, there has been a significant growth in the use of the instruments provided for by the Corporate Crisis and Insolvency Code.
In 2025, 1.776 requests for negotiated settlement were filed , a procedure that allows debtors and creditors to reach an agreement outside of court. Simplified composition proceedings saw 143 requests in the same year, compared to only 85 requests in 2024, almost doubling the volume of applications submitted.
Risks associated with indiscriminate use of procedures
The report emphasizes that, if these measures are not managed with due care, the Crisis Code could become a sort of self-imposed "pardon." In practice, the ease with which debts, even those amounting to millions, can be cancelled or reduced could encourage the reduction of both private and public debts, including those owed to the Treasury. Such a scenario risks burdening the entire community, as the loss of tax revenue directly impacts the state's ability to provide essential services.
The 2025 figures reveal a reality where businesses are increasingly struggling to survive, and where the growing use of restructuring tools must be monitored to avoid damaging side effects. This picture highlights the need for targeted policies and more effective management of crisis procedures to ensure that safeguard measures do not become a shortcut that penalizes the entire economic system.