2015 job losses due to bankruptcy at 7-year low

Over the course of 2015 a total of 10,605 firms went bankrupt, which is 684 fewer (-6.05%) than in 2014, making 2015 the second consecutive year marking a decline in bankruptcies, announced business information agency Graydon on Monday. The big plus to these bankruptcies is that the corresponding number of job losses reached 23,050, down 11.6% on 2014’s figure and the lowest we have seen since 2008.

“Although bankruptcies are still high, 2015 saw a slight improvement. In fact, December witnessed a drop of almost 25%”, said Eric Van den Broele, head of research and development at Graydon. He added that the economic growth BNB estimated at 1.3% is “without a doubt the main reason for this positive shift.”

(Source: Belga)

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