The number of bankruptcies in Luxembourg rose by 30% last year, with more than 3,300 jobs lost as a result, according to the country’s official statistics agency Statec.
There were 1,189 bankruptcies during 2024, up from 919 the previous year, the data published on Thursday showed. The bankruptcy rate among firms employing more than 10 staff “exploded”, rising by over 40%, Statec said.
Luxembourg job losses due to bankruptcies surged 40% in 2023
The figures from Statec put the number of bankruptcies as higher than that contained in a report last week from debt collection agency Creditreform, which estimated there had been a 25% rise in bankruptcies in Luxembourg last year.
The Statec report noted that the sectors most…
