Bankruptcies and liquidations on the rise in the 1st quarter of 2023
According to the latest Ministry of Justice/STATEC count, 287 companies were declared bankrupt and 312 were liquidated in the first three months of 2023.
Bankruptcies
Bankruptcies are up by 5% compared to the first quarter of 2022 (287 against 273 judgements).
The construction sector is the most affected in the first quarter of 2023, both in absolute numbers (with 58 bankruptcies, i.e. +107.1% compared to the first quarter of 2022) and in terms of job losses (estimated at around 325, i.e. over 38% of the total).
The trade sector follows closely behind with 55 bankruptcies, but the situation is different there: the number of bankruptcies remains stable compared to the first quarter of 2022, and job losses are estimated at less than 50.
There are also 38 bankruptcies in the Horesca sector (+124% compared to the first quarter of 2022), with first provisional data indicating a loss of around 150 paid jobs.
Graph 1: Number of bankruptcies per month since January 2018
Liquidations
Liquidations increased slightly in the first quarter of 2023 (+1%). Almost 70% of the companies liquidated during the period under review were holding companies and investment funds.t.
Graph 2: Number of liquidations per month since January 2018
Contact
Bureau de presse/Press office | +352 247-84219 | info@statec.etat.lu
This publication was produced by Laurent Bley. STATEC would like to thank all the contributors to this publication.
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