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Daily Dutch News in English

Lowest number of Dutch bankruptcies in 8 years

Statistics Netherlands (CBS) reports that the number of bankruptcies fell by 88 in December 2016 relative to the month of November, when the number was up substantially.

The number of bankruptcies over the entire year 2016 reached a total of 4,396, a year-on-year decrease by almost 17 percent, and the lowest number since 2009. The number of bankruptcies peaked in 2013 at 8,376 and subsequently started to decline by around one-fifth for three consecutive years, consistent with the economic recovery in the Netherlands.

Sharpest decline in construction sector
The number of bankruptcies was down across nearly all sectors but fell most substantially in the construction sector, in both absolute and relative terms. The total in that sector declined from 611 in 2015 to 411 the following year, a drop of 33 percent, along with further recovery in the housing market.

Just as in the previous year, in 2016 most bankruptcies were pronounced in the trade sector, where a total of 952 businesses went out of business, including 449 wholesalers and 425 retailers. This was followed by the sector financial services with 758 bankruptcies. Both sectors saw numbers drop considerably: by 166 (15 percent) in trade and by 187 (20 percent) in financial services.