• Latest
  • Trending
Thousands of coronavirus bankruptcies ahead for NL: credit insurer

Thousands of coronavirus bankruptcies ahead for NL: credit insurer

June 18, 2020
Programan obras viales en Manjack Tree Drive, Cole Bay, a partir del lunes 21 de julio

Programan obras viales en Manjack Tree Drive, Cole Bay, a partir del lunes 21 de julio

July 18, 2025
El KPSM devela su muro de honor en homenaje a exjefes de Policía durante la Semana de la Justicia

El KPSM devela su muro de honor en homenaje a exjefes de Policía durante la Semana de la Justicia

July 17, 2025
Policía detiene a sospechoso por agresión de violencia doméstica en Union Farm

Arrestan hombre por agresión y retención de su novia contra su voluntad

July 17, 2025
ODM: Monitoree los informes meteorológicos del fin de semana. No bajar la guardia

Consejos para la seguridad alimentaria y el almacenamiento de medicamentos durante la temporada de huracanes

July 17, 2025
El Ministro Richinel Brug elogia al sector judicial y reafirma su apoyo a la colaboración continua

El Ministro Richinel Brug elogia al sector judicial y reafirma su apoyo a la colaboración continua

July 17, 2025
Atención Médica Juvenil Lanza su Décimo Concurso Anual de Fotografía sobre Lactancia Materna

Atención Médica Juvenil Lanza su Décimo Concurso Anual de Fotografía sobre Lactancia Materna

July 17, 2025
La Ministra de Finanzas anuncia el pago del 2% del COLA a los maestros de las escuelas subvencionadas

La Ministra de Finanzas y Ministra Interina de Justicia, Marinka Gumbs, anima al público a agradecer su servicio a los trabajadores del sector judicial

July 17, 2025
El MP Lyndon Lewis condena la perturbadora agresión en St. Maarten; ofrece apoyo a la víctima y pide comunidades más seguras

El MP Lewis envía sus más sinceros saludos a los trabajadores del sector judicial durante la Semana de la Justicia

July 17, 2025
Vuelve la Experiencia de Compras Locales Definitiva: ¡GoLocal XL del 24 al 27 de julio!

Vuelve la Experiencia de Compras Locales Definitiva: ¡GoLocal XL del 24 al 27 de julio!

July 16, 2025
MHF Organiza un Grupo de Apoyo para Padres con Autismo Abierto a Todos los Padres

MHF Organiza un Grupo de Apoyo para Padres con Autismo Abierto a Todos los Padres

July 16, 2025
Inicia la ampliación de la pista del Aeropuerto Franklin Delano Roosevelt

Inicia la ampliación de la pista del Aeropuerto Franklin Delano Roosevelt

July 16, 2025
El Ministro Richinel Brug se une a “Líderes por el Cambio” en su labor de extensión comunitaria

El Ministro Richinel Brug se une a “Líderes por el Cambio” en su labor de extensión comunitaria

July 16, 2025
Saturday, July 19, 2025
Advertise
  • Home
  • ACTUALIDAD
  • English News
  • Gobierno
  • Imagen den dia
  • NOSOTROS EN SINT MAARTEN
  • Salúd
  • Video
  • Contact us
  • King Willem-Alexander formally apologizes for Dutch history of slavery
  • Mensaje de Año Nuevo de la Primera Ministra Silveria Jacobs
No Result
View All Result
No Result
View All Result

Thousands of coronavirus bankruptcies ahead for NL: credit insurer

by The Admin
June 18, 2020
in Salúd
0
Thousands of coronavirus bankruptcies ahead for NL: credit insurer

NL- A wave of bankruptcies will roll through the Netherlands from this autumn, credit insurer Coface said in a report on Thursday. According to the company’s calculations, nearly 8 thousand companies will be declared bankrupt in the 18 months after the summer. For comparison, last year 3,792 companies toppled in the Netherlands, Trouw reports.

Coface based its calculations on its large collection of business data, taking the current government coronavirus support measures into account. 

YOU MAY ALSO LIKE

Atención Médica Juvenil Lanza su Décimo Concurso Anual de Fotografía sobre Lactancia Materna

MHF Organiza un Grupo de Apoyo para Padres con Autismo Abierto a Todos los Padres

The intelligent lockdown implemented to curb the spread of the coronavirus was a massive blow for thousands of entrepreneurs, and the current easing of restrictions will not make up for that, according to Coface. Households will also consume less and companies invest less as they were made cautious by the crisis. This depresses economic growth, triggering bankruptcies.

Four sectors were particularly hit hard – catering, tourism, retail and transport. The first two are more or less self-explanatory as travel restrictions kept tourists away and fewer customers can be accommodated with social distancing measures in place. The retail sector also saw fewer customers, and was already in heavy weather before the crisis as consumers increasingly ordered online. The transport sector is struggling with social distancing and extra safety requirements. “Think about logistics around the ports, inland shipping, aviation and truck transport.” 

The Netherlands is currently in the stillness before the storm as far as bankruptcies are concerned, Edwin Busio of Coface Nederland said to the newspaper. It takes a few months to go through all the procedures that precede filing for bankruptcy, he explained. “For example, unpaid invoices cannot immediately be claimed by the suppliers. And again it takes a few weeks before suppliers transfer the claims to debt collection agencies or credit insurers.  Then you’re a few months further in total.”

The wave of bankruptcies will not necessarily have a disruptive effect on the Netherlands Busio said. Many of the companies that will topple later this year were already financially unstable before the crisis, but managed to scrape by in the economically fair weather. However, the sudden disappearances will affect consumer confidence, he added. Hospitality and retail in particular are very visible industries, so it is noticeable when they go bankrupt. That can cause unrest, affecting people’s spending behavior. 

Post Views: 180
Share208Tweet129

Search

No Result
View All Result

Recent News

Programan obras viales en Manjack Tree Drive, Cole Bay, a partir del lunes 21 de julio

Programan obras viales en Manjack Tree Drive, Cole Bay, a partir del lunes 21 de julio

July 18, 2025
El KPSM devela su muro de honor en homenaje a exjefes de Policía durante la Semana de la Justicia

El KPSM devela su muro de honor en homenaje a exjefes de Policía durante la Semana de la Justicia

July 17, 2025
Policía detiene a sospechoso por agresión de violencia doméstica en Union Farm

Arrestan hombre por agresión y retención de su novia contra su voluntad

July 17, 2025
SXM IslandTime

© 2023 SXM Island Time All Rights Reserved

Navigate Site

  • About
  • advertise
  • Privacy & Policy
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • ACTUALIDAD
  • English News
  • Gobierno
  • Imagen den dia
  • NOSOTROS EN SINT MAARTEN
  • Salúd
  • Video
  • Contact us
  • King Willem-Alexander formally apologizes for Dutch history of slavery
  • Mensaje de Año Nuevo de la Primera Ministra Silveria Jacobs

© 2023 SXM Island Time All Rights Reserved