According to the latest Ministry of Justice/STATEC count, 570 companies were declared bankrupt and 69 were liquidated in the first six months of 2024

Bankruptcies in Luxembourg

The number of bankruptcies rose by 6% compared with the first half of 2023 (570 compared with 537 judgements). Excluding holding companies and investment funds, the number of bankruptcies actually fell slightly (-3.5%). However, this apparently positive trend is not really a positive one. Initial estimates put the number of salaried jobs lost as a result of bankruptcies at 1,759, compared with 1,340 in the first half of 2023, an increase of more than 31%. We have to go back to 2013 and earlier to find similar or even higher levels of job losses.
The largest number of bankruptcies (155) concerned holding companies and investment funds.
The construction sector deplores 102 bankruptcies in the first half of 2024 (-2% compared to the same period in 2023) and 830 salaried job losses (+62% compared to the first half of 2023).
There will be 90 bankruptcies in the retail sector, a fall of more than 13% compared with the same period in 2023. Salaried job losses are estimated at 210, more than double the figure for the first half of 2023.
There will be 58 bankruptcies in the hotel and catering sector (-8% compared to the first half of 2023), resulting in a loss of 327 jobs (+32%).

Graph 1: Number of bankruptcies per month since January 2018

Liquidations

Liquidations fell sharply in the first half of 2024 (-83%). Almost 35% of the companies liquidated during the period under review were holding companies and investment funds

Graph 2: Number of liquidations per month since January 2018

All these themes can be consulted in STATEC’s “Bankruptcies and Liquidations” Dashboard, published on 10 July 2024. The statistics on bankruptcies are based on the record of judicial decisions, taken from the Trade Register and dating from 8 July 2023 for the most recent data.
The number of bankruptcies is calculated as the sum of “openings” or “reopenings” minus the bankruptcies reported from the judicial procedure “judgments and rulings declaring bankruptcy”. These figures are provisional.

Source: STATEC
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