2023-11-17 11:04:49
The number of bankruptcies in the Belgian hospitality industry reached its highest level in five years in October, according to a report published Friday by the Belgian statistics office Stabel. In total, 209 hospitality establishments filed for bankruptcy, compared to 233 in October 2018.
This sector recorded 535 job losses last month. You have to go back to June 2023 to find a higher number (542).
Overall, 1,025 bankruptcies, all sectors combined, were recorded by the company courts in October. This is an increase of 3.6% compared to September (989). In Flanders, this increase is 4.9% compared to the previous month while it reaches 5% in the south of the country.
In addition to the hospitality industry, three other sectors are affected by an increase in bankruptcies. These are specialized, scientific and technical activities (89 bankruptcies), agriculture and fishing (11 bankruptcies) and “other services” (185 bankruptcies).
Regarding the number of job losses recorded in October 2023, it amounts to 2,707, which corresponds to an increase of 21.2% compared to the month of September 2023 (2,233). This increase is around 16.1% in Flanders and 59.4% in Wallonia.
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