Bankruptcies soar in the Netherlands

Bankruptcies soar in the Netherlands

The number of bankruptcies in the Netherlands are exceptionally high according to Statistics Netherlands.

In July, 725 businesses and institutions (excluding one-man businesses) in the Netherlands were declared bankrupt, an exceptionally high number on a monthly basis. The number of bankruptcies has soared in the first seven months of 2012: 4,475 businesses and institutions went bankrupt, nearly 30 percent more than in the first seven months of 2011.

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 667 in July, the highest number recorded in decades.

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