Credit: STATEC

Luxembourg's national statistical office, STATEC, has confirmed that the number of bankruptcies in March returned to its pre-health crisis level; however, there has been a continued increase in liquidations since 2020.

During the month of March 2021, the Luxembourg courts declared a total of 116 bankruptcies (March 2020: 65 bankruptcies; March 2019: 139 bankruptcies). At present, 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 liquidations has been noted since 2020, with the Luxembourg courts having declared the liquidation of 183 companies in March 2021 (March 2020: 53 liquidations; March 2020: 60 liquidations). There has been a notable increase in liquidations in the branches of commerce and specialised, scientific and technical activities.