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A quarter of Brussels companies risk bankruptcy

© Belga

Over 25% of companies in Brussels risk bankruptcy and are in urgent need of cash injection according to a new report, carried out by Graydon.

Most of these companies (19.5%) were doing well before the coronavirus crisis. In Wallonia, 28.3% are close to bankruptcy (24% were in a good state before March 2020).

The report analysed the financial situation of shops, bars, restaurants and hairdressing salons in Brussels and in five cities in Wallonia (Liège, Charleroi, Namur, Mons and Louvain-la-Neuve) ten months after the start of the pandemic.

On the other hand, half of the companies (49.1% in Brussels, 43.3% in Wallonia) which were doing well before the crisis are still financially healthy, having liquidity reserves.

The horeca sector has been impacted by the closure. Only a quarter of the cafés, snacks and restaurants in Brussels were and are still in the green. This figure is 22% in Wallonia.

The Brussels Times