Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
ABN Amro
ABN Amro - Credit: Joeppoulssen / DepositPhotos - License: DepositPhotos
Politics
Business
bankruptcies
ABN Amro
catering industry
NOW
Russia
Ukraine
gas prices
Saturday, 26 March 2022 - 12:50
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Drastic increase in bankruptcies could hit industries: ABN AMRO

Experts at ABN AMRO predict that bankruptcies will escalate this year and the next due to soaring energy prices and the phasing out of government aid, according to a report by the bank. The most bankruptcies are expected to occur in the transport and logistics sector.

Government support for businesses during the coronavirus pandemic and multiple lockdowns is set to expire on April 1. The government has deemed the aid schemes no longer necessary now that most coronavirus-related restrictions on society have been lifted. ABN AMRO expects a withdrawal in wage-support measures to increase bankruptcies, driving more people into the labor market.

Experts at the bank suspect there will be fewer bankruptcies in the catering industry, since it has mostly reopened and is experiencing staff shortages. The catering industry was especially hard hit judging by the number of applications for NOW, a program compensating companies’ wage costs, with more than half of all applications for the scheme coming from that industry.

Russia’s invasion of Ukraine has also driven up gas prices. Companies that are significantly involved with energy could be driven to bankruptcy: experts predict an increase by 50 percent of bankruptcies in 2022 and 68 percent in 2023.

Follow us:

Latest stories

  • Several injured after car collision at gas station in Noord-Brabant; Fatal accident on the A65 near Tilburg
  • Verstappen wins in wet Monaco
  • FNV concludes collective bargaining agreements for TUI fly and easyJet after lengthy discussions
  • Feyenoord lose for the second time this season; Heerenveen set for playoffs
  • Stunning finish puts PSV in the Champions League, Ajax in Europa League
  • Police still looking for kidnapped man from Spanbroek

Top stories

  • Man found dead in apartment in Den Bosch after laying undiscovered for five months
  • Explosion at Surinamese money exchange office in Rotterdam, suspect on the run
  • Almost 1580 XR climate activists arrested on A12, 40 prosecuted
  • King Willem-Alexander will give speech on slavery commemoration, apology to be expected
  • Explosion at apartment in Rotterdam, no one injured
  • XR climate activists want to block A12 in The Hague, about 3000 protesters expected

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content