The joint indebtedness of catering businesses to banks has increased by 1.5 billion euros to 5.9 billion euros.
This is because many catering entrepreneurs have started to borrow more because of their own capital being depleted.
The ING Economics Department writes this in a report on the outlook for the hospitality sector.
The think tank attributes this to, among other things, the lack of recovery in the sector for the time being.
ING is therefore lowering its expectations for the turnover growth of the hospitality industry in 2021, from 35 percent compared to a year earlier to a maximum of 15 percent.
ING does see a large number of times in the third and fourth quarters of this year when catering businesses can partly regain lost turnover.
Guests are again welcome on terraces from April 28 between 12:00 and 18:00.
A maximum of fifty people may be seated.
The loss of revenue from 2020 is not expected to be recouped until 2022.
The number of bankruptcies, with an increase of 13 percent, nevertheless remained relatively limited, ING writes. Although, according to the think tank, this is also because many one-man businesses chose to throw in the towel and stop their business, instead of filing for bankruptcy.