Bankruptcies grew by 46 percent last quarter despite slight improvement in March

The number of bankruptcies has been rising for almost two years. In the first three months of 2024, over 46 percent more companies were declared bankrupt than in the same period a year ago.

The number of bankruptcies decreased again in March. There were eight fewer bankruptcies in March than a year before, according to Statistics Netherlands (CBS), which is around two percent less.

There were 312 companies and institutes, including sole proprietorships, declared bankrupt in March. Of all the industries, the trade industry was hit the hardest, with 57 bankruptcies.

That is 12 percent less than the sector had in February. The trade industry also has more companies than any other sector.

In March, the most bankruptcies were in the transport and storage sector. The construction industry and the industrial sector saw fewer bankruptcies last month compared to February.

The number of confirmed bankruptcies in a single month peaked in May 2013 with 911. The numbers then decreased steadily until August 2017.

They remained at a consistently steady level until halfway into 2020. The bankruptcies dropped further and reached a new low in August 2021, with 109 reported cases. They have been on an almost uninterrupted rise on a month-to-month basis since May 2022.