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617 Flemish companies went bankrupt in February, with construction businesses again the worst affected

617 Flemish companies went bankrupt in February, with construction businesses again the worst affected

During February, 617 bankruptcies were declared in Flanders. This is a record high for February, business information bureau GraydonCreditsafe said on Friday. A record was also recorded across Belgium with 1,005 bankruptcy rulings issued.

The number of companies declaring bankruptcy in Belgium increased by more than 14% in February compared to the same month last year. The previous record for February dates back to 2019 (2003 bankruptcies).

The number is two months from 2024 Bankruptcies on 1997. In addition, 4,257 jobs were at risk.

Read also: 544 Flemish companies went bankrupt in January, and the construction sector was the most affected

The building was severely damaged. With 442 statements in January and February, the sector reached a record high. According to GraydonCreditsafe, this is due not only to the “turbulent economic conditions” of the sector, but also to the increased attention paid by police and court services to combating fraud (undeclared work, matchmaking, scams, etc.).

the biggest Bankruptcies From 2024 to date, these companies are Waregem textile company MC Three Carpets (with 262 job losses according to GraydonCreditsafe), Ghent catering company Spookje (116), and Paal care products maker Soprodal (113).

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