Saturday, 30 May 2020
One in two hospitality businesses faces collapse, according to a study by business data expert Graydon, published on Saturday by L’Echo and De Tijd dailies.
Even if these establishments reopen on 8 June, 25% of hospitality businesses will continue to face serious problems, based on the hypothesis that their normal turnover will be halved up to the end of summer.
Earlier this week, another study, conducted by the UGent, indicated that owners expect 45% fewer clients upon their reopening.
A flood of bankruptcy declarations by cafés, restaurants and hotels is to be expected when business courts reopen, the study warned.
If the sector needs to remain closed until the end of summer, up to two-thirds of the businesses will be threatened with bankruptcy.
An official date for the reopening has not been decided on yet, but 8 June, when Phase 3 of Belgium’s exit plan out or lockdown, is set to start, has been named a few times before.
In Brussels, the regional hospitality industry federation has made the same assessment, noting that half of the capital’s establishments risk declaring bankruptcy.
The Brussels Times