The number of companies that were decalred bankrupt in 2017 totalled 935, less than the 983 reported in 2016 (873 in 2015 and 845 in 2014), but still below the 1,016 (2013) and 1,033 (2012).
The figures were published by Creditreform, a debt recovery firm active in the Grand Duchy. They show that the majority (almost 70%) of firms declared bankrupt last year had been established for five years.
The commercial court in Luxembourg city recorded 809 bankruptcies (down from 868) during 2017, with the court in Diekirch handling 126 such cases (up from 115). The most prevalent sectors affected in 2017 were the construction (196) and service (689) sectors.
A sharp rise was experience with respect to limited companies (sociétés anonymes), with 373 being declared bankrupt in 2017, with the number of limited liability companies (SARLs) falling, but still significant at 536.
The decline in bankruptcies in Luxembourg in 2017 follows the trend across Europe.
