Luxembourg's national statistical office, STATEC, has confirmed that the number of bankruptcies in February was stable; however, there has been a strong increase in liquidations since 2020.
During the month of February 2021, the Luxembourg courts declared a total of 70 bankruptcies (February 2020: 125 bankruptcies). For the moment, there is still no significant increase in the number of bankruptcies, even in view of the particular situation linked to COVID-19; nevertheless, STATEC expects an increase in the number of bankruptcies in the months to come.
On the other hand, a strong increase in (voluntary) liquidations has been noted since 2020 (+ 68% compared to the two previous years) with for example +115% in October 2020 compared to October 2019 and +112% in November 2020 compared to November 2019. In particular, an increase is noted in liquidations in the branches of Commerce (NACE Code 45-47) and specialised, scientific and technical activities (NACE Code 69-75). In February 2021, the Luxembourg courts declared the liquidation of 116 companies (February 2020: 100 bankruptcies).
The statistics are based on the record of judicial decisions, taken from the Commercial Register and dated 15 March 2021 for the most recent data. The month of March 2021 is therefore not taken into account for all of the "bankruptcy" and "liquidation" dashboard tables. Luxembourg courts do not pronounce liquidations in August.
