The number of bankruptcies in Flanders has fallen to its lowest level since 2008

The number of bankruptcies registered in Flanders during May 2015 fell by 16%, compared to May 2014. 377 companies had to close down last month, which is the lowest since May 2008 (301), according to figures from the Graydon trade information bureau. The number of bankruptcies also fell in Wallonia, but rose in Brussels. The number of bankruptcies for the whole county fell by 5.4% in May. In total, 851 companies closed down, 49 less than in May 2014. “That doesn’t change the fact that the number of companies going bankrupt in Belgium remains high: in 2013 and 2014, the figures for this period were higher”, says Eric Van den Broele, from Graydon Belgium.

Wallonia saw a fall, with 237 bankruptcies in May, compared to 258 last year (-8.1%). In Brussels, we saw the opposite, with a 19.8% increase in bankruptcies compared to May 2014, which makes it one of the worst Mays.

The construction sector is the most affected by bankruptcies, followed by catering, retail and company services. Together, they represent 59% of the total bankruptcies.

In five months, 10,067 jobs have been lost following bankruptcies. That’s 1,362 less (-11.9%) than January-May 2014. It’s the first time this figure has gone down since 2009, just after the economic crisis.

(Source: Belga)

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