Netherlands records lowest bankruptcies in 30 years

THE HAGUE - According to Statistics Netherlands, 1,536 companies were declared bankrupt in 2021. That number was only slightly lower in 1990 at 1,527. The stats office has been keeping track of this data since 1981. The number of bankruptcies fell in almost all sectors of industry. Most bankruptcies happened in trade, but that is also the sector with the most companies.

The number of bankruptcies in the catering industry more than halved last year compared to a year earlier. In 2020, the catering industry still had to deal with the most substantial increase in bankruptcies of all sectors. At the start of the coronavirus crisis, relatively many businesses went bankrupt.

The number of bankruptcies in December decreased compared to the previous month. According to preliminary figures from Statistics Netherlands, the courts declared 137 bankruptcies in companies and institutions, excluding sole proprietorships. 

That is 30 fewer than in November. In that month, the number of bankruptcies rose sharply, although the number was still a lot lower than before the coronavirus crisis. The wage support for entrepreneurs expired for October, but employers could apply for support again for November and December. The caretaker Cabinet wanted to help companies affected by lockdown measures to prevent the spread of the coronavirus. 

 

The number of declared bankruptcies was highest in May 2013, at 816 companies and institutions. After that, the number decreased until August 2017. Subsequently, the number of bankruptcies remained relatively stable until mid-2020. Since then, the number of bankruptcies has decreased. Last August, the number of bankruptcies reached their lowest level in over 30 years and remained low in subsequent months.




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