Falling of retail chain Esprit pushes up the number of bankruptcies in July

This article was last updated on August 12, 2024

Canada: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…
USA: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…

Falling of retail chain Esprit pushes up the number of bankruptcies in July

The toppling of fashion chain Esprit seems to have led to an increase in the number of bankruptcies in July. The Central Bureau of Statistics reports that a company in the trade went bankrupt in July, with many branches being separately registered as bankrupt.

This most likely concerns the Dutch branch of Esprit. The fashion chain had seventeen branches. When asked, CBS would not confirm that it is in the new bankruptcy figures refers to Esprit.

Another factor was that July had an extra day of hearings in the courts compared to a month earlier. Many courts issue bankruptcy rulings on a fixed day of the week. This combination resulted in 453 companies, including sole proprietorships, being declared bankrupt in July. That is 24 more than in June, or an increase of 6 percent.

Hospitality

There is certainly no question of an explosive increase in the number of bankruptcies yet. That was the purpose warned after the expiration of corona support for companies.

However, 43 percent more companies went bankrupt in the first seven months of this year than in the same period in 2023. This means that the number of bankruptcies is also higher than in the three years before corona. The shopping street and the catering industry in particular are having a hard time this year, according to CBS figures.