Large drop in business bankruptcies

The number of companies declaring bankruptcy in May dropped by 33 percent compared to the same period a year earlier, according to new numbers published by FaillissementsDossier.nl. It is the largest monthly decline in bankruptcies since 2012. Between January and May this year, 20 percent fewer companies declared bankruptcy as opposed to the same period in 2013, with nearly 4600 companies filing for bankruptcy. Of those, 829 filed their paperwork in May. The number of companies failing dropped in nearly every sector, even the hospitality industry, which had fallen on hard times since the economic crisis. Half as many cafes, hotels and restaurants went bust as in April. "Thanks to the good weather and increased consumer confidence, sales increased and we also see HORECA companies who have had difficulty are again getting some [positive] perspective," research analyst Frank Meeuwsen told the website. The improving economy and the mild winter, and warm spring were all connected to the improving industry figures.