In March, over 670 businesses and institutions (excluding one-man businesses) were declared bankrupt in the Netherlands, i.e. an increase by 130 relative to February. The bankruptcy rate soared compared to the same month one year previously. The increase in bankruptcies by 410 on March 2008 was unprecedented.
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 560 in March, as against 476 in February. This is the highest level since Statistics Netherlands started monitoring bankruptcies on a regular basis in the early 1980s. Especially in the last months, the number of bankruptcies showed an explosive growth. In less than a year, the three-monthly moving average more than doubled.
Bankruptcies of businesses and institutions (excluding one-man businesses)