Up to 18,000 firms face hard times

Some 18,000 Dutch companies may be in financial difficulties because of the recession, according to calculations by Deloitte reports the Telegraaf.

Half of these companies will depend on credit to get through the next six months, but almost half of them are finding it hard to get new financing, the paper says. And a large proportion have not discussed their difficulties with their bank, the research shows.
‘Doing nothing is not an option,’ Deloitte spokesman Oscar Snijders told the paper. ‘Companies have to sit down with their bank. To make sure their requests for credit run smoothly, firms must be open and transparent.’
While 38% of the firms polled by Deloitte said six months ago they expected the recovery to begin in the third or final quarter of this year, only 29% now think so. Just over half the firms questioned expect the recovery to begin next year.

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