Historically few bankruptcies in 2022 as well

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The number of companies declared bankrupt (including sole proprietorships), adjusted for court session days, increased for the fourth consecutive month in December. Statistics Netherlands (CBS) reports that there were 34 more bankruptcies in December than in November 2022. With the December figure being known, the provisional total for the entire year can be provided. Altogether 2,144 businesses and institutions were declared bankrupt. Since the statistic was launched in 1981, the number of bankruptcies was lower only in 2021.

Low level of bankruptcies

The number of corporate bankruptcies, adjusted for court session days, tends to fluctuate significantly. Ups and downs alternate in rapid succession. The number peaked in May 2013 at 911, then declined continuously until September 2017, after which it remained fairly flat until mid-2020. The subsequent trend was downward, reaching a record low in August 2021. Over the past four months, the number of bankruptcies rose to the highest level since June 2020, but remained relatively low.

Number of bankrupties up by 18 percent on 2021

Over the entire year 2022, a total of 2,144 businesses and institutions (including sole proprietorships) were declared bankrupt. This was the second lowest level since the start of the survey in 1981. Companies could still take advantage of coronavirus support measures in early 2022. Compared to 2021, there were 18 percent fewer bankruptcies. In 2021 the number of bankruptcies stood at 1,818. The peak of 9,431 bankruptcies was reached in 2013, during the euro crisis.

Sharpest increase recorded in trade

In 2022, just as in the previous years, most bankruptcies were pronounced in the trade sector (428). This was followed by the construction sector with 341. Both sectors are among the largest in terms of number of businesses.

The number of bankruptcies increased year on year across most sectors. In absolute terms, the trade sector also recorded the sharpest year-on-year increase: by 97. In the retail and wholesale trade sector, the increases were 56 and 44 respectively. Trade and repair of motor vehicles recorded a small decrease. Manufacturing recorded the second largest increase, by 59. Within that sector, the food industry recorded the largest increase with 10 more bankruptcies.

Sources

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