2.2pc more bankruptcies in August

1 September 2005

BRUSSELS — Some 368 businesses went bankrupt in Belgium last month, 2.2 percent more than in August 2004.

Traditionally, there are fewer bankruptcies over the summer months, newspaper ‘Het Laatste Nieuws’ reported.

Since the start of this year, 5,090 firms have gone bankrupt, commercial broadcaster VTM reported on Thursday.

The bankruptcies cost the jobs of 12,200 people compared with 12.150 in the same period last year.

The total number of bankruptcies this year represents a 0.37 percent increase over the same period in 2004.

That is a record compared for the first eight months of a year, economic research bureau Graydon said.

Most of the bankruptcies took place in the café, restaurant and hotel industry, with 868 firms going out of business or 4.7 percent more than the first eight months of 2004.

Some 710 building firms went out of business, a rise of 5.5 percent. That was the biggest rise of any sector.

Subject: Belgian news