More businesses went bankrupt last year - but still less than before corona
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Loading... - Akila Ayad
- 16 Jan 2023
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Last year, 9,823 companies went bankrupt in Belgium. This represents a 42-percent rise on the year, but 2021 was atypical in this respect due to the corona support measures from the government. The latest number is still below the figures from before the corona pandemic, figures from Graydon Creditsafe reveal. However, a couple of Flemish provinces are doing worse than average, battling higher bankruptcy figures than before corona.
The rise in the number of companies that have to close, is especially outspoken in the past couple of months. Eric Van den Broele of Graydon Creditsafe explains: "On the one hand, we are seeing companies that were in dire straits even before corona broke out. On the other hand, some companies were severely hit during the Covid crisis. Despite the support from the government, they now see they are still in trouble because the last support measures - including the option to postpone due payments - are coming to an end."
There are also regional differences. Flanders sees a rise of 56 percent on the year, well above the federal average of 42 percent. Within Flanders, Antwerp province is worst off, with 2,232 bankruptcies. This number is the second highest on record, and it is 75 percent up on the year. Flemish Brabant even had a record number of 750 bankruptcies. Read More…
