Credit: STATEC
Luxembourg's national statistical office, STATEC, has confirmed that 142 companies were declared bankrupt and 161 were liquidated between early September and late October 2021.
During the month of September 2021, the Luxembourg courts declared 64 bankruptcies (down from 90 in September 2020 and in September 2019). In October 2021, 78 bankruptcies were declared (down from 153 in October 2020 and 124 in October 2019). STATEC noted that the number of bankruptcies recorded during these two months did not increase compared to the years preceding the COVID-19 pandemic; it was even below the average for the first eight months of 2021 (100).
The companies most affected by bankruptcies in September and October 2021 were holding companies and investment funds (eleven bankruptcies in September and 27 in October), as well as those from the commerce sector (22 in September and ten in October).
Moreover, the Luxembourg courts declared the liquidation of 82 companies in September (up from 23 in September 2020 and 76 in September 2019). In October, 79 companies (down from 142 in October 2020 but up from 66 in October 2019) were liquidated.
The companies concerned by these liquidations were again mainly holding companies and investment funds (43 liquidations in September and 45 in October) and those from the commerce sector (eleven in September and nine in October).
