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Daily Dutch News in English

Number of insolvencies dropped in the Netherlands

The number of insolvencies in the firts quarter of 2011 dropped 8% compared to last year. However in the catering industry there was a significant rise, according to Dun & Bradstreet reports.

In total 1.740 companies went bankrupt in the first quarter. In March the decline was the strongest (-13%). In January the number of insolvencies dropped -2% en in February -9%. The improvement was visible in nearly all sectors and provinces. However in the catering industry there was a significant rise.

The Netherlands is slowly recoveringfrom the economic downfall. The positive trend of declining number of insolvencies continues. The number is now below 2010 and 2009 an slowly keeps decling towards the level of 2008, before the economic crisis. The catering industry still struggles. There are many start ups every year in this sector that do not make it through their first years. In an economic down time people spend traditionally less on eating outdoors. And also the smoking ban did not help very much. Moreover it is a sector in which many copmapanies depend heavily on the summer season. If the good weather in Spring continues, we may see a decline in this sector as well.

Logistics and Constructions have been struggling a lot as well, but now show a significant decline.

Utrecht (-31 procent) showed the strongest drop in insolvencies. Overijssel andFlevoland are the only two provinces with a small rise (+6%).