Number of bankruptcies in Netherlands in 2018 lowest of this century
Staff Writer |
Statistics Netherlands (CBS) reports that there were 50 more bankruptcies in December than in November 2018.
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The total number of businesses and institutions (excluding one-man businesses) filing for bankruptcy in 2018 was 3,144. This is the lowest annual figure since 2001.
Adjusted for court session days, the number of bankruptcies peaked in May 2013. This was followed by a downward trend until September 2017, after which ups and downs alternated. In September 2018, the number of bankruptcies reached the lowest level since 2001. However, the number then increased for three consecutive months.
Over the entire year 2018, a total of 3,144 bankruptcies were pronounced. This represents a year-on-year decrease of 4.5 percent. The decline is considerably smaller than in the previous four years.
The number of bankruptcies peaked in 2013 at 8,376 and subsequently dropped for five consecutive years, by altogether over 62 percent, in line with economic growth in the Netherlands.The number of bankruptcies in 2018 is the lowest of this century.
The number of bankruptcies was down across most sectors. In absolute terms, the decline was largest in specialised business services (including research and consulting firms); the total in that sector declined by 79, from 396 in 2017 to 317 in 2018.
Furthermore, the financial services sector saw a considerable drop in the number of bankruptcies from 487 to 416. In relative terms, the decline was largest in real estate activities (48 percent).
Just as in previous years, most bankruptcies were pronounced in the trade sector in 2018. Altogether 687 companies went out of business including 320 wholesalers, 304 retailers and 63 car dealers. The number of bankruptcies in this sector hardly dropped last year, namely by 6. Furthermore, bankruptcies in the accommodation and food services sector increased from 185 in 2017 to 210 in 2018. ■
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