Friday 13 December 2019

Fewer bankruptcies in 2017 as business failures reach a century low

Photo: Depositphotos.com

A total of 3,290 companies and institutions in the Netherlands were declared bankrupt in 2017, the lowest number since 2000, the national statistics office CBS said on Thursday. The figure does not include freelancers or private individuals.

The number of bankruptcies registered last year was 25% lower than in 2016. The peak year this century was 2013 when 8,376 companies went bust.

The number of bankruptcies fell last year in practically every business sector, with the fewest business failures in financial services. Most bankruptcies were recorded among wholesale and retail traders and car showrooms.

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