Saturday 03 December 2022

Bankruptcies up 9% this year, rise of 77% expected in 2023

Bankruptcies on the rise  Photo: Depositphotos

Bankruptcies are expected to rise by 77% in the year ahead, business experts have told the Financieele Dagblad.

With the end of very low interest rate loans and government coronavirus support packages, credit insurer Atradius expects a strong rise in companies going bust in 2023.

Atradius says that bankruptcies have risen 9% this year, compared with 2021, and expects another 77% rise on this year in 2023. ‘We expect things to return to the pre-corona level,’ senior economist Altradius Theo Smid told the paper. ‘Some of the companies that have been kept afloat due to government support will still fall.’

Earlier this week, experts told the FD that ‘zombie companies’, which make enough to pay wages but not enough to service their debts, may also be victims of global interest rate rises.

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