Increase in bankruptcies in Luxembourg

fr en de

Creditreform has examined the bankruptcy figures for Luxembourg in the first half of 2021 and compared them with the figures from the previous year. Herbert Eberhard, the managing director of Creditreform Luxembourg S.A., emphasised: "The increase in bankruptcies by 13.84 %, to 650 company bankruptcies in the 1st half of 2021 is not realistic, as the government measures in the particularly affected sectors, such as HoReCa, are still ongoing and thus the economic consequences of the pandemic will only occur with a delay". Preliminary figures from other European countries also point to abnormal market conditions. The Trier district reports an increase of 34 %. In Germany, business insolvencies have fallen by 1.7%. 

<< Back
08/07/2021 |
  • Creditreform

The number of bankruptcies in Luxembourg rose from 571 to 650 in the period January to June 2021. Compared to the previous year's figure, this is an increase of 13.84%. The number of companies over 5 years of age that went bankrupt during this period remained almost the same at 77.69% compared to 2020 (82.84%).  The proportion of bankruptcies of enterprises younger than five years is of 22.31% in 2021, slightly higher than in 2020 (proportion 17.16%).  
According to the relevant judicial districts, a slight increase is reported in Luxembourg with 583 bankruptcies (previous year 523). In the Diekirch judicial district, there is also an increase with 67 proceedings in 2021 compared to 2020 (48). Overall, the sum of 650 proceedings are higher than the 628 bankruptcies in the same period in 2019.   
The defaults in the various sectors were also scrutinised by Creditreform. The service sector continues to lead the field with 445 cases in the first half-year of 2021 (418 in 2020). With a difference of 6.46% compared to the previous year, the figures have remained almost the same, which can be explained by the broad positioning of this sector. In the construction sector, 68 firms went bankrupt in 2021, an increase of 38.78% compared to the previous year 2020 (49). In the manufacturing sector, there were 3 company bankruptcies in Luxembourg in 2021. In 2020, there were 6 bankruptcies, the same number as in previous years. Trade remains strongly represented with 134 business failures, an increase of 36.73% on the previous year (98), but the figure is in line with 2019 when 128 bankruptcies were counted. In HoReCa, 66 firms filed for bankruptcy in 2021, compared to 55 in the first half-year of 2020. This figure is in the range of 2019 when 72 firms went bust by 30 June. It remains to be seen what the impact of the end of subsidies will be.  
In the 1st half of 2021, mostly smaller firms went bankrupt. Some larger companies should also be mentioned. In the construction sector, Socoma Constuctions Luxembourg Sarl in Bridel with 40 employees and Solartec in Grevenmacher with 30 employees. Also to be mentioned is the company Bigor International Sarl in Lenningen with 33 employees in the trade of costume jewellery. 
In terms of the share of legal forms of companies, a decrease of 14.79% or 219 (257 in 2020) was recorded for public limited companies (S.A.).  The limited liability company (S.àr.l.), as the most frequently represented legal form, continues to have the largest single share of bankruptcies. Its share rose to 64.15% with 417 bankruptcies (302 in 2020). This also reflects the high proportion of smaller firms in bankruptcies. 
In the corporate sector, the government's decisive measures have saved many companies. 
In order for a healthy company not to get into difficulties or even have to file for bankruptcy itself, the following still applies:  secure liquidity, minimise risks! 
Overall, Creditreform assumes that the number of bankruptcies will continue to rise from 2022 onwards, especially among smaller firms, even if the recovery of most sectors of the economy continues overall. 

Back to top  | << Back

Communiqués liés


Luxair lève le voile sur sa nouvelle livrée, signée Marco...

Renaissance, avenir, tradition... tant d’illustrations qui fourmillent sur la ...

Michael Sheahan (002)

Apex Group wins mandate from Encore Capital Management

Apex Group Ltd. (“Apex” or “The Group”), a global financial services pro...

PR-LUXHUB launches the new version of its Marketplace

Luxhub launches its new marketplace

A trusted platform for all Open Finance initiatives.


Bâloise Luxembourg et ImmoPass lancent Home Vefa, un nouvea...

ImmoPass, premier organisme de contrôle technique immobilier au Luxembourg, et ...


ArcelorMittal affiche son soutien à la culture luxembourgeo...

Depuis quelques jours, ArcelorMittal a lancé sa première campagne publicitaire...

DSM Avocats à la Cour is pleased to announce the arrival of Xavier LEUCK and Frédéric SEINCE
28/06/2022 Personnalités

Nouveaux talents chez DSM Avocats à la Cour

L'étude DSM Avocats à la Cour est heureuse d'accueillir deux nouveaux membres....


Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more