Bankruptcies down; more Horeca failures

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No image availableNL Times

Among businesses and institutions, 18 percent fewer are bankrupt. This trend is in reverse with the hotel and restaurant business, however, which is seeing more failures. 

According to the bankruptcy dossiers website, bankruptcies have been on the rise in the first quarter of 2014. Hotels are failing most often.

Most sectors saw a decline in bankruptcies in the first four months of this year, with the exception of the hotel and restaurant sector. In this branch, 12 percent (178) more businesses and institutions went under.

"Due to the nice weather, the average turnover in the first months of this year rose. But up to the end of last year, the sector was deep in the minuses. That is why most companies were growing thin", says Frank Meeuwsen, senior consultant with research bureau Foodstep.

The hotel business seems to be failing. In the period up to April, 18 hotels were closed. This was 11 in the same period last year. Meeuwsen blames this on price cuts in the sector, which has caused competition for low prices and cheap deals.

The transport and building sectors have done well. The number of bankruptcies went down with 34 percent for transport, and 36 for building.

On the provincial level, Zeeland has seen most businesses manage to keep their heads above water.