Fewer bankruptcies expected next year; Retail set to rebound

Economists at ING expect fewer bankruptcies next year. According to a report published by the ING Economic Bureau on Tuesday, the number of businesses filing for bankruptcy is expected to decrease by 10 percent in 2017 compared to 2016. The Dutch retail sector also seems to be reviving.

According to the ING economists, 2017 will be the fourth in a row that the number of bankruptcies in the Netherlands decreases, NRC reports. They attribute the decrease to improved economic conditions and companies' strengthening financial positions. If the prognosis turns out to be right, the number of bankruptcies will drop to pre-crisis levels next year.

Expectations for the retail sector are also positive, especially compared to the disastrous year this sector had in the Netherlands this year. According to clothing industry association InRetail, the negative trend is finally coming to a halt and the revival seems to have begun, Edwin Belt, fashion specialist at InRetail, said to BNR. "We see that we're slowly climbing out of the valley when it comes to fashion." he said. "The growth comes mainly from the physical stores, iin conjunction with the online stores."