Bankruptcies increased by over 50% in 2023

Last year, 3,271 companies went bankrupt in the Netherlands, Statistics Netherlands (CBS) reported based on preliminary figures. That is 52 percent more than in 2022, when bankruptcies were still very low in the wake of the government’s coronavirus support measures. The number of bankruptcies was still lower than in 2019, the last full year before the pandemic.

Bankruptcies in the Netherlands peaked at 9,431 during the euro crisis in 2013. They reached a low point of 1,818 in 2021. “The fact that relatively few companies were declared bankrupt during coronavirus times cannot be seen separately from the government’s emergency support,” CBS said. The statistics office has been keeping track of this figure since 1981.

On a monthly basis, the number of bankruptcies reached a record low of 109 in August 2021. From May 2022, bankruptcies were continuously higher than in the same month a year earlier. In December, 91 more companies went bankrupt than in November, an increase of 30 percent.

Like in previous years, the trade sector had the most bankruptcies in 2023 at 682. The construction industry followed with 470. Both are large sectors in the Netherlands with many companies. Almost all industries saw more bankruptcies last year than in 2023. The increase was the strongest in trade and construction.

All twelve Dutch provinces also recorded more bankruptcies in 2023 than in 2022. The largest increase was in Noord-Brabant, with 270 companies. The provinces of Zuid-Holland (625), Noord-Brabant (603), and Noord-Holland (567) had the most bankruptcies last year. They also have the most companies.