Bankruptcies Skyrocket in The Netherlands

Bankruptcies Skyrocket in The Netherlands

The number of bankruptcies are skyrocketing in the Netherlands, according to figures released by Statistics Netherlands.

In February this year, 755 businesses and institutions (excluding one-man businesses) in the Netherlands were declared bankrupt. This is the highest monthly number ever recorded. In January, the number of bankruptcies was also high (734).

As the number of businesses declared bankrupt in a particular month is closely related to the number of days courts are in session, it may vary considerably from month to month. Therefore, the three-month moving average is a more reliable indicator.

The three-month moving average stood at 680 in February, i.e. the highest number since the beginning of the time series in 1981. Prior to the all-time high in February, the three-month moving average varied around 600 for six months.

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