Bankruptcies top 9.500 in 2011

The latest figures by Statistics Netherlands show that restaurants, snack bars, cafeterias and pubs led another year of crushing bankruptcy rates.

9.531 bankruptcies were filed last year, which is a similar figure returned for 2010. However, while bankruptcies decreased by 14 percent in sector transport, storage and communication, bankruptcies rose by a huge 28 percent in the hotels and restaurants sector due to a slash in consumer spending.

Overall though, the rate of business bankruptcy has decreased by 1 percent to 6.200 bankruptcies in 2011. The high level of bankruptcies are thus maintained by individuals, who have increased their rates by 2 percent to 2.400 total as the economic turmoil continues to restrict growth.

In addition, the bankruptcy rates are not shared evenly geographically across Holland. Overijssel suffered the most in 2011, with 3,8 bankruptcies for every 10 thousand residents. Wealthy Friesland however, returned a rate of just 0,8 per 10 thousand residents. The Netherlands continues to experience growing pains as the economy adjusts in the post-crisis period.

Source: Statistics Netherlands