Retail chain bankruptcies surge as companies struggle to stay relevant
1 week, 2 days ago

Retail chain bankruptcies surge as companies struggle to stay relevant

NL Times  

The retail sector in the Netherlands has seen a sharp rise in bankruptcies this year, with more than 300 retail companies among the 4,000 businesses that failed in 2024. High-profile retail chains such as The Body Shop, Dunkin’ Donuts, and Blokker have shuttered stores across the country, reflecting a troubling trend in the sector. “This is an implosion of a true retail empire,” he said, referring to the closure of several Blokker stores, including a prominent location in Heerlen. According to ING’s economic department, retail growth is expected to continue in 2025, albeit at a slower pace, with health and wellness products seeing particularly strong demand. “While the first half of 2024 saw cautious spending, we noticed an uptick in consumer purchases in the latter half of the year,” said Gerarda Westerhuis, sector economist for ABN Amro.

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History of this topic

Almost 170,000 retail jobs lost in 2024 - and there could be even more next year
1 week, 2 days ago

Almost 170,000 retail jobs lost in 2024 - and there could be even more next year

Sky News  

Almost 170,000 retail workers lost their jobs this year after the collapse of major high street chains, according to data. "The problems of changed customer shopping habits, inflation, rising energy costs, rents and business rates have continued and forced many retailers to cut back even more strongly in 2024." 'Multi-hazard storm' to hit on New Year's Day Last man on …

Business bankruptcies up a third compared to last year after 6% jump in November
4 weeks ago

Business bankruptcies up a third compared to last year after 6% jump in November

NL Times  

Roughly a third more business bankruptcies have been declared in the Netherlands in the first 11 months of the year compared to the same period in 2023. Through the end of November, 4,198 businesses and individuals declared bankruptcy in the Netherlands, the most for a given year since the entirety of 2019. Despite these well-known retailers declaring bankruptcy in recent …

Retail chain Blokker declared bankrupt; Stores to remain open for now
1 month, 3 weeks ago

Retail chain Blokker declared bankrupt; Stores to remain open for now

NL Times  

The Amsterdam court declared retail chain Blokker bankrupt on Wednesday. Parent company Mirage Retail Group managed to secure 35 million euros in financing from American firm The Gordon Brothers earlier in 2024. The physical stores will remain open for the time being at the request of the bankruptcy administrators “with a view of a potential sale of Blokker,” the company …

Dutch business bankruptcies up 47 percent since January; The worst start since 2017
7 months, 3 weeks ago

Dutch business bankruptcies up 47 percent since January; The worst start since 2017

NL Times  

Some 1,392 businesses, institutions and organizations were declared bankrupt since January 1, an increase of about 47 percent over the same period in 2023. “From May 2022, the number of bankruptcies was continuously higher than in the same month a year earlier.” Comparing annual periods is necessary to get a handle on current trends, because figures can fluctuate greatly from …

Bankruptcies up 40% in January, February compared to a year ago
9 months, 4 weeks ago

Bankruptcies up 40% in January, February compared to a year ago

NL Times  

Corrected for hearing days, Dutch courts declared 706 businesses bankrupt in January and February 2024. “The underlying trend in the number of bankruptcies has been increasing for almost two years,” the statistics office said. That is a month-on-month decline of 7 percent compared to the 366 bankruptcies in January, but a 24 percent increase compared to a year earlier. It’s …

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 …

Dutch retailers report turnover increase, but drop in items sold
1 year, 7 months ago

Dutch retailers report turnover increase, but drop in items sold

NL Times  

Revenue in the Dutch retail sector rose by over eight percent in the first three months of this year, when compared to the same period a year ago, said Statistics Netherlands on Tuesday. Supermarkets and clothing stores saw their turnover increase by 10.5 percent and 13.5 percent respectively, Statistics Netherlands reported. Statistics Netherlands also looked at the income from online …

Thousands of retailers risk bankruptcy, burdened with debt
2 years, 8 months ago

Thousands of retailers risk bankruptcy, burdened with debt

NL Times  

Thousands of retailers could close or go bankrupt in the coming months due to high debts, Nu.nl reports. Jan Meerman, who is general director of trade association INretail for the fashion, sports and shoe industry, told Nu.nl that around 20 percent of members have "serious problems." The Chamber of Commerce also forecasted a number of companies would close or file …

Business owners stunned by possible new lockdown
3 years ago

Business owners stunned by possible new lockdown

NL Times  

Many entrepreneurs were shocked that the Netherlands could be headed for a complete lockdown again, chair of the business owner's organization Ondernemend Nederland, Hans Biesheuvel said. After two previous lockdowns in which, among other businesses, bars, restaurants, retail stores, cultural institutions and cinemas were subject to strict coronavirus restrictions, the support of entrepreneurs has declined sharply, according to Biesheuvel. "It …

Dutch economy to shrink 4.3% this year, grow 2.6% in 2021: ING
4 years, 1 month ago

Dutch economy to shrink 4.3% this year, grow 2.6% in 2021: ING

NL Times  

After shrinking 4.3 percent this year, the Dutch economy will grow again in 2021, by 2.6 percent, economists at ING expect. The Dutch economy should be back to the size of the last quarter last year by mid-2022. Sectors hit hardest by the pandemic, like hospitality, transport and healthcare, will According to ING, the economic contraction this quarter will be …

Economy bounces back in third quarter with growth nearing 8%
4 years, 1 month ago

Economy bounces back in third quarter with growth nearing 8%

Dutch News  

The Dutch economy grew by 7.7% in the third quarter of this year compared with the previous quarter, the highest quarterly growth ever recorded, national statistics agency CBS said on Friday. The end of the lockdown in the summer boosted third quarter growth, with shops reporting record sales. ‘Money which would normally have been spent on holidays was spent in …

Netherlands businesses less worried about continued existence
4 years, 7 months ago

Netherlands businesses less worried about continued existence

NL Times  

Business owners in almost all branches of the non-financial sector were much more confident that their business will be able to exist for at least another year in May than they were in April. Retail saw the biggest increase in confidence - in April 9 percent of retail business expected to still exist a year in the future, in May …

Consumer-oriented sectors much more negative about Dutch economy
4 years, 9 months ago

Consumer-oriented sectors much more negative about Dutch economy

NL Times  

Entrepreneurs in the retail, hospitality, and travel sectors are currently much more negative about the economic climate in the Netherlands than a few months ago. More entrepreneurs expect the economy to deteriorate than expect it to improve, though on balance they still expect a higher turnover in the coming months, Statistics Netherlands reported on Monday. In the travel industry, the …

ABN Amro expects 10% more bankruptcies this year
5 years, 8 months ago

ABN Amro expects 10% more bankruptcies this year

NL Times  

Economic growth in the Netherlands will slow down this year, and that will affect businesses, according to ABN Amro. The bank's economists expect the Dutch economy to grow by 1.4 percent this year, almost half the growth 2018 saw. And the number of bankruptcies, excluding sole traders, will increase by 10 percent, ABN Amro expects, NU.nl reports. ABN Amro Between …

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