Number of bankruptcies skyrocketing

15/04/2009 15:00

In February, over 540 businesses and institutions (excluding one-man businesses) were declared bankrupt in the Netherlands, i.e. over 70 more than in January. Compared to February 2008, the number of bankruptcies almost doubled.

As the number of businesses declared bankrupt in a particular month is closely related to the number of days courts are in session, it may vary strongly from month to month. Therefore, the three-monthly moving average is a more reliable indicator.

The three-monthly moving average stood at 477 in February, as against 439 in January. This is the highest level since mid-2003. In May 2008, the three-monthly moving average reached the lowest level in seven years. Subsequently, the indicator began to rise. Especially in the last four months, the indicator has skyrocketed.

Bankruptcies of businesses and institutions (excluding one-man businesses)

Bankruptcies of businesses and institutions (excluding one-man businesses)