A total of 2,566 corporate restructuring proceedings were opened in Poland during the first half of 2026. Although this was slightly fewer than a year earlier, the scale of financial distress among businesses remains exceptionally high.
Almost two-thirds of the proceedings involved sole traders, while construction, retail, manufacturing and transport recorded the largest numbers of cases.
Between January and the end of June 2026, 2,566 restructuring proceedings were announced, compared with 2,609 in the corresponding period of 2025. This represents a year-on-year decline of approximately 1.6%.
The figures published by Poland’s Central Economic Information Centre, or COIG, therefore point to stabilisation, but at a level close to the historical peak.
The longer-term increase remains substantial. In 2016, the first year in which Poland’s current restructuring regulations were in force, only 212 proceedings were opened.
The number rose to 465 in 2019, 800 in 2020 and 1,888 in 2021. It then increased to 2,379 in 2022, 4,244 in 2023 and 4,565 in 2024. Poland recorded an all-time high of 5,121 restructuring proceedings in 2025.
Should the pace recorded during the first six months continue until the end of December, the full-year total would reach approximately 5,130 proceedings.
This simple projection does not account for seasonal differences between individual months. It nevertheless shows that, despite the modest annual decline, Polish businesses continue to make extensive use of procedures designed to protect them against bankruptcy.
Companies primarily choose arrangement approval proceedings
Proceedings for the approval of an arrangement remain by far the most popular form of corporate restructuring in Poland.
This procedure was used in 2,389 cases during the first half of 2026, representing 93.1% of all restructuring proceedings.
It allows a business to negotiate with creditors and collect their votes with the assistance of an arrangement supervisor, while limiting direct court involvement.
Under certain conditions, the procedure can also provide temporary protection against enforcement action and the termination of agreements that are essential to the company’s operations.
Accelerated arrangement proceedings were used in 98 cases, representing approximately 3.8% of the total.
There were also 47 sanation proceedings, 19 proceedings seeking amendments to existing arrangements and 13 standard arrangement proceedings.
COIG’s published table attributed an 8.02% share to the 98 accelerated arrangement proceedings. However, 98 out of a total of 2,566 proceedings represents approximately 3.82%.
The overwhelming dominance of arrangement approval proceedings indicates that businesses prefer a procedure that allows them to begin negotiations with creditors relatively quickly without handing full control of the company to a court-appointed administrator.
Sole traders account for almost two-thirds of cases
Restructuring proceedings most frequently involved people operating as sole traders.
A total of 1,690 such proceedings were opened during the first half of the year, accounting for 65.86% of all cases.
Limited liability companies were the second-largest category, with 646 proceedings, equivalent to 25.18% of the total.
Restructuring procedures also covered 99 farms, 45 limited partnerships, 29 general partnerships and 23 joint-stock companies.
Individual proceedings additionally involved foundations, cooperatives, associations, simple joint-stock companies and independent public healthcare institutions.
The large share of sole traders demonstrates that liquidity problems are not limited to large corporations.
Restructuring has become an important tool for smaller businesses, for which the loss of a major contract, an increase in financing costs or delayed customer payments can quickly create a risk of insolvency.
Construction and retail record the most proceedings
Construction recorded the largest number of restructuring proceedings in the first half of 2026.
A total of 498 construction businesses entered restructuring, representing 19.44% of all cases.
Wholesale and retail trade, including motor vehicle repairs, followed with 468 proceedings, accounting for 18.27% of the total.
Manufacturing ranked third with 361 cases, while transport and warehousing recorded 310 proceedings.
Together, these four sectors accounted for almost 64% of all corporate restructurings opened during the period.
Professional, scientific and technical activities recorded 175 proceedings, while agriculture accounted for 133.
Administrative and support services were affected in 122 cases, and 112 restructuring proceedings involved accommodation and food-service businesses.
A more detailed breakdown by business activity shows that road freight transport was particularly exposed, with 236 proceedings.
Plumbing, heating, gas and air-conditioning installation businesses recorded 76 cases, while electrical installation companies accounted for 74.
Other frequently represented activities included mixed farming, grocery retail, the construction of buildings, online sales, specialised construction work and restaurants.
Mazovia has the highest number of restructurings
Mazovia recorded the largest number of restructuring proceedings in the first half of 2026.
A total of 477 cases were announced in the region, representing 18.59% of all proceedings nationwide.
Silesia ranked second with 349 cases, followed by Greater Poland with 268.
More than 200 proceedings were also recorded in Lesser Poland, with 206 cases, and Lower Silesia, with 205.
Pomerania reported 164 restructurings, the Łódź province 141 and Kuyavia-Pomerania 129.
The lowest numbers were recorded in the Opole province, with 40 cases, Lubuskie with 61 and Podlaskie with 68.
These regional figures have not been adjusted for the number of businesses operating in each province.
They therefore show the absolute scale of restructuring activity rather than the probability that an individual company operating in a particular region will enter proceedings.
Stabilisation does not mean companies’ finances have improved
The slight decline in the number of proceedings may suggest that the rapid growth observed in previous years has slowed.
It does not, however, mean that the financial condition of Polish businesses has improved significantly.
The number of restructurings remains several times higher than before the COVID-19 pandemic and close to the record level reached in 2025.
The greatest pressure continues to affect sectors characterised by high operating costs, low profit margins, substantial working-capital requirements and widespread use of deferred payment terms.
Construction, retail, transport and manufacturing remain particularly exposed to these risks.
Corporate restructuring is not the same as bankruptcy. Its primary purpose is to allow a business to reach an arrangement with creditors, reorganise its debts and continue operating.
The success of a restructuring process ultimately depends on whether the company has a realistic prospect of restoring profitability and meeting the obligations included in its repayment plan.
The figures for the first half of 2026 show that restructuring remains one of the most commonly used responses to liquidity problems among Polish businesses.
At the same time, the continued high number of proceedings suggests that difficulties with servicing debts and paying liabilities on time still affect a significant share of the country’s small and medium-sized enterprises.
