The September wave of insolvencies - what the figures show
Data from the analytics firm MGBI leaves little room for illusion: in September 2026, 43 businesses were declared insolvent. That is as much as 72% more than in August and 13.2% more than in September 2025. September therefore ranks third in this year's figures, behind March (49 insolvencies) and July (47 insolvencies).
Such a dramatic jump compared with the previous month is a justified cause for concern among business owners. Although the year-on-year increase seems less dramatic, the long-term trend indicates that Polish companies are struggling with growing structural problems. It is worth looking at the broader context of this data to understand what lies behind the statistics.
Importantly, the number of petitions for a declaration of insolvency filed with the court in September was 138 - a fall of 27.8% compared with August (191 petitions) and of 19.3% compared with September 2025. A smaller number of new petitions alongside an increase in declared insolvencies may indicate that the courts are processing cases filed in previous months more efficiently, and that the backlog of petitions is now turning into rulings.
Restructuring as an alternative - are companies looking for a lifeline
Alongside the insolvency data, it is worth noting the petitions to open restructuring proceedings. In September, 346 were filed - 10.8% fewer than in August (388) and almost the same as a year earlier (a fall of just 0.3%). This means that, despite the difficult market situation, some business owners still see a chance to save their businesses.
Restructuring remains a key tool for companies that are struggling financially but do not want or need to declare insolvency. Restructuring proceedings allow liabilities to be renegotiated, payments to be deferred and a recovery plan to be drawn up - all under court supervision and with protection from enforcement by creditors.
The stable number of restructuring petitions year on year suggests that awareness of this solution among Polish business owners is now well established. At the same time, the fall compared with August may mean that some companies that were still looking for a rescue route in the summer ultimately decided to file for insolvency - which would explain the September rise in declared insolvencies.
Why Polish companies fail - the main threats
The rise in the number of insolvencies is no coincidence. The CRIF study "Banking on Banks 2026", published in July this year, shows the scale of concern among Polish business owners. As many as 86% of respondents worry about the future of their business, and 36% believe that their company will not survive another decade. These are alarming figures, which confirm that the problems are systemic rather than isolated.
The most frequently cited threats were:
- Rising operating costs - 39% of respondents
- Rising business insurance costs - 23%
- Falling profits - 20%
- Loss of financial liquidity - 19%
- Cybercrime - 64% regard it as one of the main threats
- Fraud - 53% of respondents point to it as a risk, and 60% regularly encounter fraud attempts
It is particularly worrying that more than half of business owners have seen an increase in the frequency of fraud attempts over the past year. This is an additional financial and organisational burden which, combined with rising operating costs, may decide the fate of many companies - especially those in the SME sector, which do not have extensive compliance departments.
Costs and liquidity - the main business killers
In total, more than 58% of business owners point to cost factors as the key threat. Rising prices of energy, raw materials, wages and insurance premiums create a snowball effect - margins shrink, and companies that cannot pass costs on to customers lose the ability to pay their liabilities. Loss of liquidity, although cited "only" by 19% of respondents, is often the direct reason for filing an insolvency petition.
It is worth remembering that insolvency within the meaning of insolvency law is not just a lack of funds in the bank account - it is also a situation in which liabilities exceed the value of the company's assets. A business owner who recognises such a situation too late loses the opportunity to use restructuring and exposes themselves to personal liability.
Asset protection and planning for a crisis
The growing scale of insolvencies is a warning signal not only for companies in a difficult situation, but also for those that are stable today. An asset protection structure implemented early enough - for example by separating operating assets from strategic ones - can, if properly planned, safeguard a business owner's wealth against unforeseen difficulties.
One solution that Polish business owners are increasingly turning to is a holding company structure or a family foundation. A family foundation, operating under the Act of 26 January 2023, allows, as a rule, assets to be protected from business risk while also enabling succession planning. A dividend from a limited liability company (sp. z o.o.) paid to a family foundation is, as a rule, exempt from tax, which can be a significant element of a company's financial strategy.
It should be stressed, however, that every structure requires an individual legal and tax analysis. The effectiveness of asset protection depends on many factors - the timing of implementation, the type of business carried on, the structure of liabilities and the business owner's family situation. There are no universal solutions in this area.
What to do when your company is already in crisis
For business owners who are already struggling with financial problems, quick action is crucial. Polish insolvency law imposes on the debtor an obligation to file an insolvency petition within 30 days of becoming insolvent. Failure to meet this deadline may result in personal liability for members of the management board.
Individuals, including former business owners, may instead consider consumer bankruptcy - a procedure that allows debts to be discharged and liabilities that the debtor is unable to repay to be written off. These proceedings stop bailiff enforcement and give a chance of a fresh financial start.
Don't wait for insolvency - take advantage of a free consultation
The September insolvency data shows that the crisis in Polish business is deepening. Whether your company is stable and you want to secure your assets for the future, or you are already struggling with financial problems, it is worth consulting experts about your situation as soon as possible.
The Global Accounting team offers a free consultation, during which it will analyse your situation and indicate possible courses of action - from optimising your business structure, through a family foundation, to the consumer bankruptcy procedure for individuals. Every case requires an individual approach, so do not delay the first step.
Call: +48 505 684 412 or write to [email protected]. The first consultation (15 minutes) is free.
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