Fewer bankruptcies among Brussels restaurants than expected

Neither the introduction of the pedestrian zone nor the terrorist attacks of 22 March have so far resulted in a large increase in bankruptcies in the centre of Brussels, according to business consultancy Graydon.

“We have seen a slight increase in the number of bankruptcies in the restaurant industry in Brussels, but it’s very small,” said the company’s Eric Van den Broele. Nearly the entire increase is in full-service restaurants.

Restaurants do, however, make up a growing percentage of all bankruptcies in Brussels, from nearly 15% in 2014 to more than 23% at the beginning of 2016. That growing share is also seen in Flanders.

The overall number of bankruptcies across Belgium, meanwhile, continues to decrease: April saw 841 companies go bust, down 12% on the same month last year. In the first four months of the year, Graydon registered 16% fewer than in the same period in 2015.

Photo courtesy Au Vieux Bruxelles