The Dutch retail landscape can sometimes expect more bankruptcies due to the arrival of Amazon. This predicts credit insurer Atradius Wednesday in a forecast. According to Atradius, online stores would also notice the effect of the American giant.
Atradius states that the arrival of Amazon puts additional price pressure on retailers. According to Edwin Kuhlman, head of risk management at Atradius the Netherlands, this can mainly increase the number of bankruptcies of the weaker players.
These are companies that cannot absorb setbacks and, for example, have no distinctive character. “Parties that are now well positioned and have sufficient financial strength will be best placed to face this competition.”
As a credit insurer, Atradius is active as a service provider for parties that deliver goods to, for example, retailers. The company thereby takes on the risk that the customer does not pay for the goods.
Last year, the number of claims for non-payment was increased by 17.1 percent, mainly due to the large number of chain store bankruptcies.
Difficult climate for retailers
Hudson’s Bay, CoolCat, Intertoys and Op = Op Voordeelshop, among others, went bankrupt last year and these are just a few names. “That indicates how difficult the climate is in retail,” said Kuhlman of Atradius Netherlands.
The exact date on which Amazon will open its digital doors in the Netherlands is not yet known, but thousands of suppliers have already reported in recent days. Wijnand Jongen, director of Thuiswinkel.org, previously told NU.nl not to worry. “The cake is not nearly finished yet, this is good for the e-commerce market.”
There is also a lot of uncertainty in the construction. The consequences of the nitrogen and PFAS emissions policy are still uncertain, Kuhlman emphasizes. “Many current construction projects have been discontinued. If a company also has new projects in its portfolio that have not yet been licensed, liquidity will come under pressure.”
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