More Than 10,000 Belgian Jobs Lost so Far This Year Due to Bankruptcies

In the first four months of 2025, 10,936 jobs were lost due to bankruptcies, according to figures published by Belgian statistics agency Statbel, The Brussels Times reported. From January to April, the courts declared 3,968 bankruptcies. In April alone, there were 982 bankruptcies, 6.2% more than in the same month last year. According to Statbel, this is the highest number of bankruptcies in April since 2013.
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Casa Liquidation Sale Draws Huge Crowds Amid Bankruptcy

On Monday, hundreds of consumers flocked to the Casa store in Mechelen, Belgium, eager to take advantage of significant discounts as part of the store's total liquidation sale, The Pinnacle Gazette reported. Customers began gathering outside the store as early as 8:00 AM, and by the time the doors opened at 10:15 AM, a line stretching approximately 100 meters had formed. The Casa liquidation, featuring a remarkable 50% off all items, is being conducted across the ten most successful branches of the chain and is supervised by VH Auctions.

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Lunch Garden to Relaunch 41 Restaurants After Bankruptcy

Investment firm CIM Capital has agreed to a relaunch of the Lunch Garden restaurant chain. Of the 62 locations, 41 can reopen and roughly half of the employees can return to work, Lunch Garden announced on Wednesday, according to the Brussels Times. The exact date for the reopening is still unknown. The restaurant chain will continue with a more agile structure and will be free of its historical debts, according to a press release. Out of the 41 restaurants, 24 will be company-operated, while 17 will be managed by independent operators.
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Six Banks in Belgium Fail Bankruptcy Stress Test

The majority of banks in Belgium held up well in a recent stress test regarding the guarantee of customer deposits if they went bankrupt. However, six banks failed to provide sufficient information to the Federal Government. A recent test conducted by the State Guarantee Fund (managed by the Ministry of Finance) assessed whether 29 different banks in Belgium were able to meet legal requirements in the event of a bankruptcy. All credit institutions which hold deposits in Belgium were tested, including Argenta, Belfius, BNP Paribas Fortis, CBC, Crelan, ING and KBC.
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Air Belgium Faces Bankruptcy Without a Lifeline

Air Belgium (KF) is nearing bankruptcy again, as a court in Nivelles has granted the airline a two-week extension to secure new financial backing, AirwaysMag.com reported. After almost a year of creditor protection, the airline has faced a significant drop in revenue—down 40%—following its cessation of passenger flights. The company is grappling with an annual loss of €22 million and a negative equity of €69 million, requiring at least €18 million in funding to avoid collapse.
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