Most bankruptcies in over two years; Still below pre-Covid levels

The number of bankruptcies has risen for the third month in a row. According to Statistics Netherlands (CBS), 224 companies and institutions, including one-person businesses, went bankrupt in November. That is seven more than in October.

According to CBS, this was the highest number of bankruptcies in over two years, though it is still lower than before the coronavirus pandemic. The number of bankruptcies is so low partly due to the Cabinet’s coronavirus support, which kept even fundamentally unhealthy companies afloat. The generic support ended in the course of 2021. The bankruptcy wave predicted by various experts has not yet materialized.

CBS corrected the reported figure for the number of court days in November. Many courts handle bankruptcy cases on a fixed day of the week, usually a Tuesday. Some months contain more Tuesdays than others.

Retail trade was again the sector with the most bankruptcies, with 57 in November. That is not surprising because trade is one of the largest industries in the Netherlands. The industry was the sector with the highest percentage of bankruptcies.