Belgium's business courts recorded 1,088 bankruptcies in June, 29.2% more than in May, according to information released by the Belgian Statistical Office, Statbel, on Friday.
Although this was a sharp monthly increase, this figure was relatively stable when compared to June data from the previous two years. However, it was also the highest monthly tally in 2024.
Bankruptcy declarations in Belgium since the start of the year amounted to 5,815, up from 5,317 in the first half of 2023.
Three sectors experienced more bankruptcies in June 2024 than in the corresponding months in 2022 or 2023. These include construction, which reported 248, its most significant number of bankruptcies for the 2012-2024 period. Hospitality reported 208, the highest ever for June, and the industry/energy sector had 54 bankruptcies.
By the close of the first half of the year, the construction, and transport and storage sectors had recorded soaring bankruptcy levels. Construction had 1,342, which was 18.3% higher than 2023’s record figure. Transport and storage registered 371 bankruptcies, 5.7% more than last year’s peak of 351.
Almost 2,700 jobs were lost due to June’s bankruptcies. The sectors most affected were commerce (602 job losses), construction (541), and industry/energy (251).
