March 2020: 869 bankruptcies

Economic indicators
March 2020: 869 bankruptcies

In March 2020, 869 businesses in Belgium went bankrupt.

These bankruptcies resulted in a loss of 1,723 jobs: 865 full-time employees, 462 part-time employees and 396 salaried employers.

The number of bankruptcies in the last six months amounts to 5,364, a decrease of 3.5% compared to the same period last year.

In the last six months, compared to the same period last year, the number of failed businesses in the industry sector dropped by 11.2% In construction this number dropped by 5.3%; whereas in commerce there was a decrease by 3.9%. The hotel and catering industry dropped by 8.4%. The number of bankruptcies in transportation and other services rose by 1.7%.

At regional level and in the same period there was a rise by 1.6% in the Flemish Region, a rise of 0.5% in the Walloon Region and a decrease of 15.0% in the Brussels-Capital Region.

When interpreting the bankruptcy figures, we should take into account the fact that there is a delay between the declaration of bankruptcy and the cessation of economic activity. As a result, the economic impact is visible in the figures with some delay. Furthermore, due to the current crisis caused by the spread of the coronavirus (COVID-19), many business courts and registries operate at reduced capacity and limit their activities. It is therefore possible that, in the short term, the figures may not be a reliable indicator of the real economic situation.