595 enterprises were declared bankrupt in Belgium in November 2020.
Bankruptcies registered in November resulted in 1,348 job losses: 886 full-time jobs, 226 part-time jobs and 236 salaried employers.
The sectors with the highest numbers of bankruptcies in November: 209 bankruptcies in transportation and other service activities, 133 in wholesale and retail trade, 128 in construction and 85 in accommodation and food service activities.
At regional level, there were 295 bankruptcies in Flanders, 168 in Wallonia and 132 in Brussels.
When interpreting the figures, account should be taken of the fact that there is a certain delay between the termination of the economic activity and the notification of bankruptcy by the business court. As a result, the economic impact is only reflected in the figures after a certain period of time.
Moreover, because of the Covid-19 crisis and the related lockdown, business courts and registries limited their activities until 18 May. A temporary moratorium was also in force until 17 June 2020 in order to protect enterprises that were healthy before 18 March 2020 from the effects of the Covid-19 crisis
Since then, business courts have gradually resumed their activities, but, for July and August, the judicial recess should be taken into account when interpreting the figures. Courts remain open during this period but the number of hearings is reduced. The public measures described above and the recess have probably had a mitigating effect on the number of bankruptcies pronounced from March to August.
From 6 November 2020 onwards and due to the second wave of coronavirus, the government approved a moratorium on bankruptcy proceedings until 31 January 2021 and committed itself to working on a new, simpler, faster and more efficient procedure for judicial reorganisation, always with the objective of creating the conditions for the continuity of enterprises in difficulty.
Many measures are in force - at federal, regional and local level - to support enterprises in these times of crisis. For example the NSSO grants voluntary payment plans for a maximum duration of 24 months for the payment of all contributions and sums due for the year 2020. At the level of the FPS Finances, enterprises encountering financial difficulties due to the spread of the coronavirus can ask for support measures until 31.03.20201.