More bankruptcies in July

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© Hollandse Hoogte / Peter Hilz
Statistics Netherlands (CBS) reports that, adjusted for the number of court session days, there were 24 more bankruptcies in July 2024 than in June. That was an increase of 6 percent. In the first seven months, approximately 43 percent more businesses were declared bankrupt than one year previously. The number of bankruptcies was also higher than in the last three years before the coronavirus pandemic.

Number of bankruptcies rising

The number of corporate bankruptcies adjusted for court session days fluctuates significantly. The number peaked at 911 in May 2013. It subsequently continued to decline until August 2017, after which it remained fairly stable until mid-2020. It then declined once again, reaching a record low of 109 in August 2021. Since May 2022, the number of bankruptcies has been consistently higher year on year.

Most bankruptcies recorded in the trade sector

If the number of court session days is not taken into account, a total of 453 businesses and institutions (including sole proprietorships) were declared bankrupt in July. The trade sector had the highest number of bankruptcies at 108, up by 60 from June.

The increase in the number of bankruptcies in the trade sector was large partly due to the fact that there was one more court session day in July than in June. Many courts issue bankruptcy rulings on a fixed day of the week. As a result, some months have more of these session days than other months. The number of bankruptcies in trade was also relatively low in June. Furthermore, a company was declared bankrupt with a relatively large number of locations, each of which counted as bankrupt.

The trade sector is one of the sectors with the largest number of businesses. In relative terms, the most bankruptcies in July were declared in the accommodation and food services sector.

Sources

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