First week of May: 55 bankruptcies

© ANP
In week 19 (working week 4 to 8 May inclusive), 55 companies and institutions including sole proprietorships were declared bankrupt, as reported by Statistics Netherlands (CBS). This is 24 fewer than in week 18. Bankruptcies are often pronounced on Tuesdays by Dutch courts; Tuesday 5 May was a public holiday in the Netherlands.

During the first 19 weeks of 2020, a total of 1,397 companies and institutions were declared bankrupt. This is 16 more than in the same period in 2019.

 

Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m.

 

Not including sole proprietorships, there were 46 bankruptcies in week 19. This is 18 down on the previous week. In addition, 9 sole proprietorships were declared bankrupt, 6 fewer than in week 18.

Number of bankruptcies of businesses and institutions (including sole proprietorships), weekly
 Week Bankruptcies
2019117
2019274
2019369
2019482
2019587
2019671
2019784
2019864
2019983
20191074
20191163
20191285
20191380
20191485
20191581
20191688
20191764
20191858
20191972
20192056
20192178
20192283
20192359
20192464
20192581
20192678
20192775
20192874
20192976
20193064
20193170
20193267
20193378
20193474
20193565
20193649
20193787
20193893
20193969
20194064
20194174
20194269
20194345
20194495
20194574
20194684
20194778
20194879
20194981
20195071
20195196
20195254
2020125
2020272
2020370
2020473
2020582
2020667
20207114
2020873
2020968
20201080
20201176
20201268
20201347
20201474
20201597
20201665
202017112
20201879
20201955

Most bankruptcies recorded in specialised business services

Of all sectors, specialised business services (e.g. legal services, architectural firms and advertising agencies) recorded the highest number of bankruptcies, namely 8. This was 3 more than in week 18. In addition, 6 bankruptcies were recorded in construction and 5 in food and beverage services. Four of the 6 bankruptcies in construction were sole proprietorships. Just as in most previous weeks of 2020, the highest number of sole proprietor bankruptcies was seen in the construction sector.

Number of bankruptcies of businesses and institutions (including sole proprietorships) by sector, 2020
 week 19week 18
Specialised business services85
Construction611
Food and beverage services56
Wholesale410
Retail410
Repair of motor vehicles and motorcycles30
Information and communication32
Financial services311
Employment activities34
Manufacturing24
Transport and storage22
Arts, entertainment and recreation20
Hairdressers and beauty salons22
Accommodation services12
Travel agency, tour operator and other10
Care11

Several weeks may elapse between the date of filing for bankruptcy and the court decision. As of week 14, Dutch courts are granting a longer application period of at least four weeks in cases of a bankruptcy petition being made (i.e. by claimants), unless the procedures are deemed urgent. In addition, the Dutch government has established an emergency package for the economy and the job market in order to provide the proper support to Dutch businesses.

Figures published in this news release are provisional and subject to revision.