An ad hoc group (AHG) of noteholders has successfully converted Dutch scheme of arrangement arbitration (WHOA) proceedings launched by Brazilian cement maker InterCement’s finance-raising arm in Amsterdam into bankruptcy proceedings, two weeks after the group secured chapter 15 recognition of its Brazilian recuperação judicial (RJ) plan, Latin Lawyer reported. Read more.
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Bankruptcies in Netherlands Drop to Lowest Point in over 18 Months, Hospitality Sector Sees Increase
In March 2025, the Netherlands saw a significant decline in the number of business bankruptcies, according to figures released by Statistics Netherlands (CBS), NL Times reported. A total of 271 companies were declared bankrupt, marking the lowest number in over a year and a half. This represents a 20 percent decrease compared to March 2024 and a 25 percent drop from February 2025. However, bankruptcies in the hospitality sector are on the rise. The bankruptcy rate in March 2025 stood at 7.4 bankruptcies per 100,000 businesses, a decrease from the 9.5 rate recorded in March 2024.
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Three creditors of Mirage Retail Group, the bankrupt parent of bankrupt household chain Blokker, have claimed the stores of retail chain Minso Nederland, according to bankruptcy administrator Job van Hooff, NL Times reported. Miniso is the only part of the group that is not yet bankrupt, and may be able to generate money for the creditors. Miniso is a Chinese retail formula that has grown to over 7,000 branches worldwide since its foundation in 2023. The retail formula was introduced in the Netherlands five years ago under Mirage Retail Group as the franchisee.
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The number of bankruptcies in the Netherlands stayed at the same level in January as it was in the previous month when corrected for court hearing days, NLTimes.com reported. Statistics Netherlands reported that the number of bankruptcies was below the same time as last year. There was a significant increase in the number of bankruptcies in 2024. Statistics Netherlands reported last month that almost 4,300 companies were declared bankrupt. That is an increase of 30 percent compared to 2023. Monthly figures can fluctuate.
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The Dutch government is seeking to prevent the rollout of "buy now, pay later" services in physical retail outlets due to the financial risks they pose for consumers, according to a letter sent by Finance Minister Eelco Heinen to parliament on Tuesday, Reuters reported. "Buy now, pay later" (BNPL) schemes surged in popularity for online purchases since the COVID-19 pandemic and allows consumers to split payments over time into smaller, interest-free installments. These loans are often provided by digital lenders such as Sweden's Klarna.
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The Casbit Group, previously the operator of Lalabet and JungliWin online casinos, has been declared bankrupt by the Court of Curaçao, World Casino News reported. The company’s financial troubles stem from numerous unpaid debts, including €619,500 owed to Dutch gamblers who were unable to claim their winnings. After ceasing operations in Curaçao earlier this year, the group’s casinos are now under the management of a Costa Rican company.