More bankruptcies in February; Still below pre-pandemic levels
In February, 277 businesses were declared bankrupt in the Netherlands. That is 49 more than in January, an increase of 21 percent, Statistics Netherlands (CBS) reported. The number of bankruptcies remained below the pre-coronavirus level.
“The number of bankruptcies corrected for hearing days fluctuates considerably. Decreases and increases follow each other in rapid succession,” CBS said.
The number of bankruptcies peaked in May 2013 at 991. After that, it fell until August 2017, and then the number remained relatively stable until mid-2020. During the coronavirus pandemic, when the government offered businesses various support schemes, the number of bankruptcies decreased to a record low in August 2021.
After August 2022, the number of bankruptcies increased for four months, then decreased in January 2023, and increased again last month.
Not adjusted for court days, 259 companies and institutions went bankrupt in February. Trade had the highest number of bankruptcies at 62, 29 percent more than in January. Trade is also one of the sectors with the most companies. Relatively, most bankruptcies happened in the hospitality sector in February.