At the beginning of the corona crisis, trade credit insurers, banks and other financial institutions expected a large growth in bankruptcies. Governments and trade credit insurers intervened in a several schemes and ensured that the economic climate was not completely undermined. Read more about the expectations regarding bankruptcies.
The number of Dutch companies declared bankrupt, adjusted for court days, has increased. In November 57 more companies were declared bankrupt than in October, the organization Statistics Netherlands reported. However, the number of declared bankruptcies is still low compared to the period before the outbreak of corona.
Number of bankruptcies for 2021 remains unchanged at a low level
The number of bankruptcies adjusted for court days fluctuates considerably. Decreases and rises follow each other in quick succession. The number of declared bankruptcies peaked at 816 in May 2013. After that, the number of bankruptcies decreased until August 2017. The trend then remained fairly flat until mid-2020. Since then, the number of bankruptcies has decreased. In August 2021 the number of bankruptcies reached its lowest level since December 1990. The number of bankruptcies was also low in the following months. However, the number of bankruptcies in November 2021 reached the highest level of the past 12 months.
Most bankruptcies in trade
Not adjusted for court days, 183 companies and institutions (excluding sole proprietorships) were declared bankrupt in November. Trade had the highest number of bankruptcies of all industries, at 35. That is 19 more than in October.
Trade is one of the industries with the most companies. Relatively speaking, most bankruptcies were pronounced in November in the construction sector.
Arm yourself against default and bankruptcy of your customer
These uncertain times bring risks. Will your customer still be able to purchase? And if they do, can they still pay? Credit insurance gives you more security. Both in advance through the correct and up-to-date insight into the creditworthiness of your customer. And afterwards when your customer does not pay. Contact the specialists of MODINT Credit & Finance and inquire about the possibilities, call 088-5054700 or email email@example.com.
Source: Statistics Netherlands (CBS)