Closed companies segmented by revenue

Historical company closures segmented by revenue

When we talk about company closures, we’ve already gotten used to three things:

1. The strong seasonality of the data series.
2. The impact that Christmas life-reflection has on the closure spike every January.
3. The series’ remarkable consistency and predictability.

When we segment company closures by revenue, we see pretty much the same pattern we saw when segmenting by industry: closure shares remain fairly stable — in relative terms — across all revenue ranges.

That said, when we look at year-over-year changes in more detail, we can spot slight differences. This June we have 7% more closed companies with less than €1M in revenue, and 64% more in the €1M–€10M range.

Meanwhile, closures among companies that have not yet filed annual accounts — and therefore have no revenue data available — are down 18% compared to June last year.

Revenue ranges in June

If we break down June’s data by revenue and exclude companies that have not filed annual accounts, we see that over 91% of closed companies had under half a million euros in revenue in their last year — almost split 50/50 between those above and below €250K.

However, if instead of counting closed companies we calculate total revenue lost, the “pie” becomes more evenly distributed across revenue ranges — except for the +€10M range. That’s because in June we have an exceptional closure of a company with almost €800M in revenue, as we’ll see next.

Notable closures in June

If we plot the companies with more than €5M in revenue that closed in June 2025 — by revenue, Autonomous Community, and sector of activity — there’s one company that completely throws the chart off: Lease Plan Servicios SA and its 795 “little millions”.

I like this chart because behind each of those dots there’s a meaningful story, usually related to mergers and acquisitions.

In our case, ALD bought Lease Plan for 4.8 billion, merging both companies into what is now Ayvens.

What we’re seeing in June is simply the extinction of the Sociedad Anónima, but its business doesn’t disappear — it’s alive and kicking under Ayvens Spain Mobility Solutions.

Do you know any curious M&A stories for any of the other companies in the chart?

Share it in the comments!