Bankruptcy rate rises 25%

17th July 2012, Comments 0 comments

The number of companies going bankrupt rose 25% in the first six months of the year to nearly 4,000, according to new figures from the national statistics office CBS.

In total a record 3,760 firms went bust in the 2012 first half, beating the previous record set in 2009 by over 200.

The construction sector was particularly hard hit, with 495 firms going bust. This was a rise of some 44% on 2011.

‘In 2000, lots of companies could absorb the downturn but after four bad years, they've now had it,' a CBS spokesman told news agency ANP.

Business services

Trading groups were also badly affected, with bankruptcies up 22% at 676. Financial and business service sector bankruptcies rose slightly to 1094.

Economist and corporate advisor Antonie Kerstholt told the Financieele Dagblad he expected a further deterioration this year. ‘More sectors are experiencing difficulties, particularly small firms and freelancers,' he said.

The uncertainty is only likely to increase because of the impending general election in the Netherlands and the situation in Europe, he said. 

© DutchNews.nl

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