In the first 35 weeks of 2020, 2,370 companies and institutions were declared bankrupt. That is 153 fewer than in the same period in 2019.
Statistics Netherlands publishes bankruptcy figures every week in the expectation that they are an indicator of the crisis. The fact that fewer entrepreneurs have gone bankrupt than in the same period last year is due to the government’s emergency aid package. In addition, courts are reluctant to file for bankruptcy when an entrepreneur has been scammed by the corona crisis.
The number of bankruptcies is expected to increase as government support expires. In a recent international survey, credit insurer Atradius predicts that the number of bankruptcies in the Netherlands will increase by 34% this year, compared with a global increase of 26%. For the next year, the credit insurer expects the number of bankruptcies to decrease by 3%, while in the Netherlands an increase of 4% is expected.
Most of the bankruptcies occurred in the financial services sector last week, eight. That’s four more than last week. In addition, six wholesale companies went bankrupt, one more than the previous week. Six companies also went bankrupt in transportation and storage, three more than the week before.