A total of 2,566 corporate restructuring proceedings were opened in Poland in the first half of 2026. Although this was slightly fewer than a year earlier, the figures show that financial pressure on businesses remains exceptionally high. Almost two-thirds of all proceedings involved sole traders, while construction, retail, manufacturing and transport were the most heavily affected sectors.
Between January and the end of June 2026, restructuring proceedings were announced in relation to 2,566 businesses. In the corresponding period of 2025, the figure stood at 2,609, representing a year-on-year decline of approximately 1.6%.
Data published by Poland’s Central Economic Information Centre, or COIG, therefore point to stabilisation, but at a level close to the historic peak.
For comparison, only 212 proceedings were opened in the whole of 2016, the first year in which Poland’s current restructuring framework was in force. 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. The year 2025 ended with a record 5,121 restructuring proceedings.
Were the pace recorded during the first six months of 2026 to continue until the end of December, the annual total would reach approximately 5,130. Such a simple projection does not account for seasonal differences between individual months, but it illustrates that companies continue to make extensive use of procedures intended to protect them from insolvency.
Companies overwhelmingly choose arrangement approval proceedings
Arrangement approval proceedings remained by far the most popular form of restructuring. They were used in 2,389 cases during the first half of 2026, representing 93.1% of all proceedings.
This procedure allows a business to negotiate with creditors and collect their votes with the assistance of an arrangement supervisor, while limiting direct court involvement. It may also provide temporary protection against enforcement action and the termination of contracts that are essential to the company’s operations.
Accelerated arrangement proceedings were opened in 98 cases, equivalent to approximately 3.8% of the total. Sanation proceedings accounted for 47 cases, amendments to existing arrangements for 19, and standard arrangement proceedings for 13.
The table published by COIG attributed an 8.02% share to the 98 accelerated arrangement proceedings. However, calculating their share against the overall total of 2,566 produces a figure of approximately 3.82%.
The overwhelming popularity of arrangement approval proceedings shows that businesses prefer a procedure that enables them to begin talks with creditors relatively quickly without surrendering full control over the company to an administrator.
Sole traders account for almost two-thirds of cases
Restructuring proceedings most frequently involved individuals operating as sole traders. There were 1,690 such cases in the first half of the year, accounting for 65.86% of all proceedings.
Limited liability companies were the second-largest group. A total of 646 restructuring proceedings were opened against such entities, representing 25.18% of the total.
The figures also included 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 confined to major corporations. Restructuring has become a tool used primarily by smaller businesses, for which the loss of a major contract, an increase in financing costs or delayed customer payments may quickly result in the threat of insolvency.
Construction and retail record the most proceedings
Construction was the sector with the highest number of restructuring proceedings. A total of 498 cases were recorded in the first half of 2026, accounting for 19.44% of the overall figure.
Wholesale and retail trade, including vehicle repairs, followed closely with 468 proceedings, or 18.27% of the total.
Manufacturing ranked third with 361 cases, while transport and warehousing came fourth, with 310 businesses entering restructuring.
Together, these four sectors accounted for almost 64% of all proceedings.
Professional, scientific and technical activities followed with 175 cases, agriculture with 133 and administrative and support services with 122. A further 112 restructuring proceedings were opened in the accommodation and food-service sector.
A more detailed breakdown by Polish Classification of Activities, or PKD, code shows that road freight transport was the single most affected business activity, with 236 proceedings.
It was followed by companies carrying out plumbing, heating, gas and air-conditioning installations, with 76 cases, and electrical installation businesses, with 74.
Other activities frequently affected by restructuring included mixed crop and livestock farming, grocery retailing, building construction, online sales, specialised construction work and restaurant operations.
Mazovia leads regional ranking
The highest number of restructuring proceedings was recorded in the Mazowieckie province, which includes Warsaw. There were 477 cases in the region, accounting for 18.59% of the national total.
The Śląskie province ranked second with 349 proceedings, followed by Wielkopolskie with 268.
More than 200 proceedings were also opened in Małopolskie, with 206 cases, and Dolnośląskie, with 205.
Pomorskie recorded 164 proceedings, Łódzkie 141 and Kujawsko-Pomorskie 129.
The lowest numbers were reported in Opolskie, with 40 cases, Lubuskie with 61 and Podlaskie with 68.
However, these figures were not adjusted for the number of businesses operating in each province. They therefore illustrate the absolute scale of restructuring activity in individual regions rather than the risk level per company.
Stabilisation does not mean that business conditions have improved
The slight decline in restructuring proceedings during the first half of the year may suggest that the rapid upward trend observed in previous years has begun to lose momentum. It does not, however, mean that the financial position of Polish companies has improved significantly.
The number of proceedings remains many times higher than before the pandemic and close to the record level reached in 2025.
Sectors facing high cost pressure, low margins, substantial working-capital requirements and widespread use of deferred payments remain particularly exposed. These include construction, retail, transport and manufacturing.
Restructuring is not the same as bankruptcy. Its primary purpose is to enable a debtor to reach an agreement with creditors, reorganise its liabilities and continue operating.
The success of any restructuring nevertheless depends on whether the business has a realistic prospect of restoring profitability and meeting the repayment obligations set out in the approved arrangement.
The figures for the first half of 2026 show that restructuring remains one of the most commonly used responses by Polish businesses facing liquidity problems.
At the same time, the persistently high number of proceedings may be a warning that difficulties in paying liabilities on time continue to affect a significant part of Poland’s small and medium-sized business sector.
