Fewer bankruptcies this summer in Belgium

In July and August this year, 1,129 companies in Belgium went bankrupt, 18% fewer than in the same period in 2013, reports trade information agency Graydon.

During the first eight months of 2014, Graydon recorded a total of 7,093 bankruptcies in Belgium. This corresponds to a decrease of 6.3% compared to the same period last year, when 7,568 bankruptcies were recorded. With the exception of February, the number of bankruptcies every month was lower than last year.

"These are positive signs of gradual economic recovery," explains Filip Hendrickx of Graydon. "But we have to be realistic, because the bankruptcy level is still a lot higher compared to the years prior to 2013, which was a record high year.”