Construction, transport, garages and catering dominate the bankruptcies

In the first quarter of this year, 211 companies were declared bankrupt in Limburg. That is the highest figure since 2019, so to speak, since the corona crisis. Of all Belgian provinces, only Flemish Brabant fared worse.

Compared to last year, there were 15% more bankruptcies in Limburg in Q1. Across the entire Flemish Region, last year’s record was wiped off the tables with 1,807 bankruptcies. Also at sectoral level, a number of ‘records’ were recorded after one quarter, according to GraydonCreditsafe:

Construction sector (+11.5%): This is due to the economic conditions, but also to the intensified fight against fraudulent companies.

Transport sector (+9.7%): This increase is mainly due to increased fuel prices and some post-covid effects.

Trade in cars and garages (+27.8%) : A consequence of structural trends, such as the electrification of the vehicle fleet. The brands themselves are increasingly taking the lead in sales, while garages generate less income from maintenance work.

The catering sector: The sector was hit particularly hard in Flanders. In the past 10 years there have never been more than 315 bankruptcies.

In the top 50 of companies with potentially the largest job losses due to bankruptcy, the Limburg companies Soprodal are third with 113 jobs lost and Marc Vaesen (62 jobs at Zizzoo I and II in Bilzen and Riemst).