Record high bankruptcies in 2008

18th December 2008, Comments 0 comments

8,086 bankruptcies have been registered so far this year.

The record for the number of companies going bankrupt in a year in Belgium has already been broken this year, with a couple of weeks still to go before the end of the year.

8,086 bankruptcies have been registered so far this year, according to statistics released by UNIZO (Organisation for the Self-Employed and SMEs) and the study group Graydon.

The previous record was 7,986 bankruptcies in 2004.

Unizo is worried about the financial health of the small and medium sized companies.

The Organisation for the Self-Employed and SMEs points out that the small and medium sized companies have less of a buffer during times of crisis.

The economic slowdown is being felt in all sectors, according to Unizo and Graydon.

Much will depend on how long the current slow-down drags on and whether it will get worse before it gets better. Graydon predicts that next year will also be a record year for bankruptcies.

The study group even thinks that the number of bankruptcies in Belgium could exceed the 9,000 mark .


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