Bankruptcies still soaring in the Netherlands

The number of bankruptcies in the Netherlands are still soaring and exceptionally high according to figures released by Statistics Netherlands.

In October, 703 businesses and institutions (excluding one-man businesses) in the Netherlands were declared bankrupt, i.e. nearly 150 more than in September. In the first ten months of 2012, 6245 businesses and institutions went bankrupt, i.e. nearly 25 percent more than in the same period 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 591 in October versus 597 in September. October is the third month in a row in which the three-month moving average fell slightly.

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