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The number of bankruptcies in Luxembourg increased by 9% in the first nine months of 2023, compared to the same period in 2022.
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This is the highest number of bankruptcies in Luxembourg since 2016.
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The increase in bankruptcies has led to a sharp rise in job losses.
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In the first nine months of 2023, over 1,900 jobs were lost due to bankruptcies. This is the highest number of job losses due to bankruptcies in Luxembourg since 2017.
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The sectors that have been hardest hit by bankruptcies include construction, retail, and hospitality.
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The increase in bankruptcies is a sign of the economic challenges facing Luxembourg.
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The Luxembourg government is taking steps to help businesses that are struggling.
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The government has introduced a number of financial support measures, and it has also made it easier for businesses to restructure their debts.
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However, more needs to be done to help businesses that are struggling.
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The Luxembourg government needs to invest in the economy and create jobs.
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By working together, the Luxembourg government and the business community can overcome these challenges and build a stronger economy.
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