Bankruptcies in LuxembourgMost bankrupt firms in 2018 had no employees

RTL Today
LSAP MP Mars di Bartolomeo submitted a parliamentary question to Minister of the Economy Etienne Schneider concerning the drastic number of bankruptcies in 2018.

Di Bartolomeo wanted to know why so many companies went bankrupt in the past year. The number of bankruptcies declared rose by nearly a third in 2018.

In his response, Schneider explained that the majority of the companies that went bankrupt were ones without employees. He is still awaiting the specific statistics, but according to Statec (the government statistics agency), there were 1,189 bankruptcies declared in 2018. In the previous year, there were 904.

The most-affected sector is finance and insurance, where bankruptcies grew by 60%.

Since January 2018: 611 companies went bankrupt, highest number since 2012

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