Bankruptcies up by over 50 percent in 2023

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© CBS / Nikki van Toorn
Statistics Netherlands (CBS) reports that, adjusted for the number of court session days, there were 91 more bankruptcies in December 2023 than one month previously; an increase of 30 percent. There has been an upward trend in the number of bankruptcies for over a year. With the December figure being known, the provisional total for the whole year can be provided. Altogether 3,271 businesses and institutions were declared bankrupt, over 50 percent more than in 2022.

Number of bankruptcies of businesses and institutions (including sole proprietorships) adjusted for court sessions days
YearWeekNumber of bankruptcies
2020January311
2020February333
2020March280
2020April382
2020May406
2020June257
2020July227
2020August195
2020September212
2020October190
2020November210
2020December174
2021January172
2021February143
2021March165
2021April193
2021May163
2021June139
2021July125
2021August109
2021September141
2021October126
2021November183
2021December159
2022January139
2022February182
2022March166
2022April119
2022May189
2022June164
2022July148
2022August148
2022September174
2022October219
2022November228
2022December269
2023January228
2023February277
2023March212
2023April239
2023May255
2023June302
2023July257
2023August268
2023September296
2023October292
2023November299
2023December390

Number of bankruptcies rising

The number of corporate bankruptcies (adjusted for court session days) fluctuates substantially, with rapidly alternating ups and downs. The number peaked in May 2013 (911); it subsequently declined continuously until August 2017 inclusive, after which it remained fairly stable until mid-2020. It then followed a downward trend again, reaching a record low of 109 in August 2021. Since May 2022, the number of bankruptcies has continuously been higher than in the same month one year previously.

3,271 companies declared bankrupt in 2023

Over the entire year 2023, a total of 3,271 businesses and institutions (including sole proprietorships) were declared bankrupt. This was 52 percent more than in 2022, when the number amounted to 2,145. The number of bankruptcies in 2023 was still lower than in 2019, the last full year pre-pandemic.

The peak of 9,431 bankruptcies was reached in 2013 during the euro crisis. In 2021, it was at the lowest level (1,818) since the start of the survey in 1981. The fact that fewer companies were declared bankrupt during the coronavirus pandemic cannot be seen in isolation from the government emergency support.

Number of bankruptcies of businesses and institutions (including sole proprietorships)
 Number
20046648
20056780
20065941
20074602
20084637
20097987
20107147
20116883
20128346
20139431
20147621
20156006
20165012
20173867
20183633
20193792
20203177
20211818
20222145
20233271

Sharpest increase recorded in trade

In 2023, just as in the previous years, most bankruptcies were pronounced in the trade sector (682). This was followed by the construction sector with 479 bankruptcies. Both sectors are among the largest in terms of number of businesses.

The number of bankruptcies increased year on year in virtually all sectors. In absolute terms, the trade sector also recorded the sharpest year-on-year increase: by 254. In retail, wholesale and motor vehicle trade increases were 145, 105 and 4, respectively.

Construction recorded the second largest increase of 139. In the accommodation and food services sector, bankruptcies doubled from 134 in 2022 to 267 in 2023. The increase was mainly seen in food and beverage services, where the number of bankruptcies was 126 higher than in 2022. The increase was 7 among hotels and other accommodation providers.

Number of bankruptcies of businesses and institutions (including sole proprietorships) by sector
Bedrijfstak20232022
Trade682428
Construction479340
Specialised business services352224
Financial services307181
Manufacturing270161
Accommodation and food services267134
Transportation and storage237136
Renting and other business services170164
Information and communication12376
Care104112
Other service activities7351
Real estate activities6637
Arts, sports and recreation5932
Education4518
Agriculture, forestry and fisheries2132