Fewer corporate and personal bankruptcies filed in 2010

08/02/2011 15:00
  • 9,620 bankruptcies in 2010
  • 9 percent decline relative to 2009
  • Construction sector: bankruptcies up by 20 percent

Last year, 9.6 thousand bankruptcies were filed, i.e. 9 percent fewer than in 2009. The fragile economic recovery in 2010 is also manifest in the number of bankruptcies.

The number of corporate bankruptcies (excluding one-man businesses) was 6.3 thousand last year, 10 percent down from one year previously, but still among the highest Statistics Netherlands has ever recorded in the span of one year.

The number of personal bankruptcies dropped by 7 percent to 2.3 thousand and 1 thousand one-man businesses (half of them self-employed without personnel) went bankrupt, a decline by 6 percent relative to 2009.

The number of bankruptcies dropped in nearly all sectors in 2010. The only sectors to show an increase were construction (+20 percent) and hotels and restaurants (+7 percent). In construction, non-residential building was hit hard. In the sector hotels and restaurants, many restaurants and pubs faced bankruptcy. The number of bankruptcies declined most in the sector financial institutions, followed by business services and trade and repair of consumer articles.

Despite the rapid decline, the sector business services still accounted for the highest number of bankruptcies (1.5 thousand). Many consultancy agencies providing legal and economic services, temp agencies, architectural firms and technical consultancy agencies went bankrupt. The number of bankruptcies was also high in the sector trade and repair, particularly in retail and wholesale of clothes, shoes, furniture and home furnishing.

The number of personal bankruptcies was reduced most in the province of Flevoland in 2010 (by 45 percent relative to 2009). Fewer personal  bankruptcies were recorded in nearly all provinces save Overijssel and Limburg. On average, 2 in 10 thousand Dutch aged 18 or older were declared bankrupt. On the provincial level, the average number of bankruptcies ranged from 1 in 10 thousand residents in Zeeland to more than 3 in 10 thousand in Overijssel.