Luxembourg Records 21% Drop in Bankruptcies up to End of Q3

Luxembourg's statistics agency, STATEC, and the Ministry of Justice have confirmed that 675 companies were declared bankrupt and another 573 were liquidated in the first nine months of 2022.

The Luxembourg courts declared a total of 675 bankruptcies between January and September 2022, down 21% compared to 2021. Holding companies and investment funds represented 26.2% of bankruptcies, while 20.1% of bankrupt companies are classified in the trade branch.

The Luxembourg courts also declared the liquidation of 573 companies during the first nine months of 2022, down 25% compared to same period in 2021. The companies most affected by the liquidations are those of the holding type and investment funds (45.2% of the total) and those from the trade branch (16.1% of the total).