Thousands of coronavirus bankruptcies ahead for NL: credit insurer
4 years, 6 months ago

Thousands of coronavirus bankruptcies ahead for NL: credit insurer

NL Times  

A wave of bankruptcies will roll through the Netherlands from this autumn, credit insurer Coface said in a report on Thursday. Coface based its calculations on its large collection of business data, taking the current government coronavirus support measures into account. The first two are more or less self-explanatory as travel restrictions kept tourists away and fewer customers can be accommodated with social distancing measures in place. The retail sector also saw fewer customers, and was already in heavy weather before the crisis as consumers increasingly ordered online.

Netherlands Coface Credit Insurer  wave  nl  thousands  netherlands  retail  crisis  coface  transport  credit  bankruptcies  insurer  companies  ahead  weather  coronavirus  months

History of this topic

Slight increase in bankruptcies; Upward trend continues
1 year ago

Slight increase in bankruptcies; Upward trend continues

NL Times  

Corrected for court hearing days, there were seven more bankruptcies in November than in October, Statistics Netherlands reported on Tuesday. Trade had the largest number of bankruptcies at 56, 11 percent less than in October. The number of declared bankruptcies peaked at 911 in May 2013, after the credit crisis. Since May 2022, the number of bankruptcies has continuously been …

Bankruptcies on the rise in the Netherlands; Up 5% in August
1 year, 3 months ago

Bankruptcies on the rise in the Netherlands; Up 5% in August

NL Times  

The number of bankruptcies in the Netherlands has been rising for 16 months in a row, Statistics Netherlands reported on Tuesday. In August, the courts declared 5 percent more companies bankrupt than in July, corrected for the number of court hearing days. “Moreover, August had more court hearing days than in July and June.” The trade sector is also one …

More bankruptcies in February; Still below pre-pandemic levels
1 year, 9 months ago

More bankruptcies in February; Still below pre-pandemic levels

NL Times  

In February, 277 businesses were declared bankrupt in the Netherlands. “The number of bankruptcies corrected for hearing days fluctuates considerably. During the coronavirus pandemic, when the government offered businesses various support schemes, the number of bankruptcies decreased to a record low in August 2021. After August 2022, the number of bankruptcies increased for four months, then decreased in January 2023, …

Bankruptcies fell in January for the first time since August
1 year, 10 months ago

Bankruptcies fell in January for the first time since August

NL Times  

The number of bankruptcies fell again in January after four consecutive months of increases, according to Statistics Netherlands. The number of bankruptcies remained low compared to the period before the coronavirus pandemic. After August 2022, bankruptcies rose for four straight months to the highest level since May 2020. Since then, the number of bankruptcies fell further to a record low …

Impending economic crisis will dwarf coronavirus crisis, says credit insurer Allianz
2 years, 2 months ago

Impending economic crisis will dwarf coronavirus crisis, says credit insurer Allianz

NL Times  

The looming economic crisis will make the coronavirus crisis look like nothing, according to credit insurer Allianz Trade. Rarely have so many negative facts come together simultaneously,” Johan Geeroms, director of risk underwriting in the Benelux for Allianz, said in a press statement. And, partly due to the 10 percent increase in the minimum wage the government announced for next …

More NL residents traveling as Covid restrictions disappear globally: ING
2 years, 7 months ago

More NL residents traveling as Covid restrictions disappear globally: ING

NL Times  

Netherlands residents are traveling more and further now that coronavirus restrictions for international travel have been lifted. The number of travel insurance policies taken out has increased by half since the turn of the year compared to the same period in 2021, ING concluded from its own data and that of insurer Nationale-Nederlanden. The number of insurance policies sold has …

Dutch business bankruptcies projected to double
2 years, 8 months ago

Dutch business bankruptcies projected to double

NL Times  

The number of bankruptcies in the Netherlands will be 101 percent higher this year than in 2021, credit insurer Atradius expects. Countries with extensive support packages saw insolvencies decrease significantly in 2021 and will see a big increase this year and next year. The Netherlands, for example, saw bankruptcies decrease 41 percent in 2021 and will see a 101 percent …

Coronavirus risk level in several Dutch regions could be downgraded next week
3 years, 5 months ago

Coronavirus risk level in several Dutch regions could be downgraded next week

NL Times  

The number of people diagnosed as being infected with the SARS-CoV-2 coronavirus has fallen acutely over the last five days, and the drop could be enough to reduce the warning levels in over a half-dozen regions of the Netherlands. The risk levels are assessed based on number of infections per 100 thousand residents, and the number of Covid-19 hospitalizations each …

NL sees fewest bankruptcies since 1991, despite pandemic
3 years, 11 months ago

NL sees fewest bankruptcies since 1991, despite pandemic

NL Times  

Despite the pandemic putting pressure on the Dutch economy, 2020 saw remarkably few Dutch businesses go bankrupt. A total of 2,703 companies were declared bankrupt last year, 16 percent less than in 2019 and the lowest number since 1991, Statistics Netherlands reported on Tuesday. The stats office attributed the low number of bankruptcies to the coronavirus support measures the government …

Dutch gov't taking risks in providing Covid support: Court of Audit
4 years, 1 month ago

Dutch gov't taking risks in providing Covid support: Court of Audit

NL Times  

In providing coronavirus support loans and guarantees to companies, the government is not consistently following the rules meant to make sure that Ministers don't take major risks with such financial transactions, the Court of Audit said on Wednesday, NOS and the Volkskrant report. Over the past months, the government provided 62.7 billion euros in loans and guarantees, mainly to businesses …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

Dutch have few ‘zombie companies’ but wave of bankruptcies is around the corner
4 years, 3 months ago

Dutch have few ‘zombie companies’ but wave of bankruptcies is around the corner

Dutch News  

Dutch government measures to bail out companies hit by the coronavirus crisis have not created large number of zombie companies compared to other European countries but this year will see a big increase in bankruptcies, the Financieele Dagblad said on Tuesday. Figures from credit insurer Atradius published in economic journal ESB show that the Dutch approach to the crisis has …

Covid bailout slammed the brakes on new bankruptcies
4 years, 3 months ago

Covid bailout slammed the brakes on new bankruptcies

NL Times  

The number of companies declared bankrupt in the Netherlands decreased further in August to the lowest number in 21 years, Statistics Netherlands reported on Thursday. This likely has to do with the government's coronavirus support packages, rescuing companies that may have gone bankrupt even if there had been no coronavirus crisis. Corrected for the number of court days, 173 businesses …

Credit insurer says the Netherlands will be hit by a wave of bankruptcies in 2020
4 years, 4 months ago

Credit insurer says the Netherlands will be hit by a wave of bankruptcies in 2020

Dutch News  

Credit insurance company Atradius expects the Netherlands to be hard hit by bankruptcies next year, when the effect of government support starts to wear off. Atradius said it expects a 34% rise in the number of bankruptcies in 2020, second only to Portugal within the eurozone, even though the ‘economic contraction is smaller than in most other countries.’ Unlike countries …

Dutch economy will take years to recover from Covid-19 crisis: Planning office
4 years, 4 months ago

Dutch economy will take years to recover from Covid-19 crisis: Planning office

NL Times  

The coronavirus crisis will cause long lasting damage to the Dutch economy, even if the virus is completely under control soon, according to central planning office CPB. The labor supply and investments will only recover in the long term - ten years or more, the CPB expects. "That does mean that we missed out on two years of economic growth," …

Fifth of Dutch businesses struggling with payment problems
4 years, 6 months ago

Fifth of Dutch businesses struggling with payment problems

NL Times  

Almost 20 percent of businesses in the Netherlands were unable to meet their financial obligations in May. A third said they won't last longer than three months in their current situations, according to a survey of 112 sector organizations affiliated with MKB Nederlands and VNO-NCW. 88 percent of businesses said their sector is currently being affected or heavily affected by …

Coronavirus could cause a new euro crisis: Dutch Planning Office
4 years, 7 months ago

Coronavirus could cause a new euro crisis: Dutch Planning Office

NL Times  

The coronavirus crisis could lead to a new euro crisis, the Netherlands office for economic policy analysis CPB said after analyzing the vulnerabilities of the financial system. Despite coronavirus support measures implemented by the government, businesses and households are facing increasing financial difficulties. It showed that a quarter of small and medium sized businesses need more money than support measures …

Almost 50% of Dutch companies say they can't survive six months of crisis
4 years, 8 months ago

Almost 50% of Dutch companies say they can't survive six months of crisis

Dutch News  

Almost 50% of companies working outside the financial sector say they might go bust if the coronavirus pandemic lasts more than six month, according to research by national statistics agency CBS and several employers’ organisations. The research carried out at the beginning of April, also shows 15% of firms say they cannot survive beyond two months of crisis. Small firms, …

Another 112 coronavirus deaths in NL
4 years, 9 months ago

Another 112 coronavirus deaths in NL

NL Times  

A total of 112 people in the Netherlands died of coronavirus Covid-19 in the past 24 hours, public health institute RIVM said on Friday. This is the highest number of deaths in a single day the Netherlands has seen yet and brings the total number of coronavirus deaths to 546. Despite the increasing number of daily coronavirus deaths, the RIVM …

Coronavirus will almost certainly put Dutch economy in recession: Planning Office
4 years, 9 months ago

Coronavirus will almost certainly put Dutch economy in recession: Planning Office

NL Times  

The outbreak of the coronavirus will almost certainly result in a recession for the Dutch economy, according to Pieter Hasekamp, director of central planning office CPB. "We are still calculating, but a recession is almost inevitable," he said in an interview with the Telegraaf. In early March the CPB forecast said that the Dutch economy will grow 1.4 percent this …

Coronavirus to put Dutch economy in recession: Rabobank
4 years, 9 months ago

Coronavirus to put Dutch economy in recession: Rabobank

NL Times  

The Covid-19 crisis will result in the Dutch economy shrinking by 0.2 percent this year, according to economists from Rabobank. "The crisis is affecting almost all sectors, but the biggest blows are in the construction, agriculture, hospitality, and transport sectors," the economists said. Although the business community is happy with the government's measures to prevent mass redundancies, they fear the …

Millions stay home as the Netherlands goes into lockdown
4 years, 9 months ago

Millions stay home as the Netherlands goes into lockdown

Dutch News  

The streets of Dutch towns and cities are largely deserted on Monday as millions of people heed the government’s advice to work from home. The government on Sunday evening introduced drastic new measures aimed at stopping the spread of coronavirus, which has killed 20 people in the Netherlands so far. Self-employment The economic affairs ministry said on Monday it expected …

Millions stay home as the Netherlands goes into lockdown
4 years, 9 months ago

Millions stay home as the Netherlands goes into lockdown

Dutch News  

The streets of Dutch towns and cities are largely deserted on Monday as millions of people heed the government’s advice to work from home. The government on Sunday evening introduced drastic new measures aimed at stopping the spread of coronavirus, which has killed 20 people in the Netherlands so far. Self-employment The economic affairs ministry said on Monday it expected …

Coronavirus could cause recession in Netherlands, central bank director says
4 years, 9 months ago

Coronavirus could cause recession in Netherlands, central bank director says

NL Times  

Klaas Knot, director of Dutch central bank DNB, does not rule out the possibility that the coronavirus pandemic will bring the Dutch economy into a recession. "You don't need a very serious corona scenario, on top of what we expect now, for our economy to also come close to a recession," he said to Nieuwsuur after a meeting at the …

Number of Dutch coronavirus patients rises to 321, no school for thousands
4 years, 10 months ago

Number of Dutch coronavirus patients rises to 321, no school for thousands

Dutch News  

The total number of coronavirus patients in the Netherlands has risen to 321, with 56 new cases in the last 24 hours, the public health agency RIVM announced on Monday. Prime minister Mark Rutte insisted that the Dutch economy can withstand the impact of coronavirus after stock markets dropped sharply on Monday morning. Shell’s share price fell by 21.3% in …

Number of Dutch coronavirus patients rises to 321, no school for thousands
4 years, 10 months ago

Number of Dutch coronavirus patients rises to 321, no school for thousands

Dutch News  

The total number of coronavirus patients in the Netherlands has risen to 321, with 56 new cases in the last 24 hours, the public health agency RIVM announced on Monday. Prime minister Mark Rutte insisted that the Dutch economy can withstand the impact of coronavirus after stock markets dropped sharply on Monday morning. Shell’s share price fell by 21.3% in …

Coronavirus hits more Dutch businesses as stocks fall, KLM cuts flights
4 years, 10 months ago

Coronavirus hits more Dutch businesses as stocks fall, KLM cuts flights

NL Times  

The growing severity of coronavirus in the Netherlands is continuing to rattle investors, and taking a toll on the country's businesses. By the end of trading on Friday, the AEX Index at Euronext Amsterdam closed 3.9 percent lower than a day earlier, and 15.6 percent down from the record high of 629.23 set on Valentine's Day. The AEX Index had …

Dutch coronavirus total rises to 23*, 300 firms apply to lay off staff
4 years, 10 months ago

Dutch coronavirus total rises to 23*, 300 firms apply to lay off staff

Dutch News  

The number of confirmed cases of coronavirus in the Netherlands rose by six to 24 on Tuesday, health board officials said. Nearly all the Dutch patients so far have been in northern Italy or are family members of another patient and health officials are still trying to trace the source of the other infections, the public health institute RIVM said. …

Dutch coronavirus total rises to 23*, 300 firms apply to lay off staff
4 years, 10 months ago

Dutch coronavirus total rises to 23*, 300 firms apply to lay off staff

Dutch News  

The number of confirmed cases of coronavirus in the Netherlands rose by six to 24 on Tuesday, health board officials said. Nearly all the Dutch patients so far have been in northern Italy or are family members of another patient and health officials are still trying to trace the source of the other infections, the public health institute RIVM said. …

Discover Related