Surge in bankruptcy auctions hits Dutch plastic recycling sector

Recent wave of insolvencies highlights the industry's vulnerability

AMSTERDAM, April 15, 2025 – The number of bankruptcies in the sustainable sector is rising sharply, driven by high production costs, regulatory uncertainty, and international competition. One of the hardest-hit industries is plastic recycling in the Netherlands. Costly investments, an influx of cheap virgin plastic, and sluggish demand for circular products are putting severe pressure on entrepreneurs. Auction house Troostwijk Auctions reports a 150% increase in bankruptcy auctions in the plastic recycling sector compared to the year before.

One of these auctions concerns the assets of the Dutch branch of Danish artificial turf recycler Re-Match, which was declared bankrupt in February. Notably, the company previously received a €4.5 million subsidy from the Dutch Ministry of Economic Affairs and Climate Policy to construct this factory. In Denmark, Re-Match is operating successfully.

150 percent increase
The Re-Match bankruptcy is not an isolated case. Over the past twelve months, Troostwijk Auctions has conducted twenty bankruptcy auctions in the "Plastic Process Industry" category in the Netherlands alone, up from eight the year before—a 150 percent increase. Notable collapses in the second half of 2024 include Umincorp, PVC Recycling Lelystad, and Stiphout Plastics. These companies are now in the process of having their assets auctioned on the Troostwijk platform.

Increase in cheap virgin plastic
A major driver of this trend is the growing availability of cheap virgin plastic, especially from the United States and China. These low-cost imports are pushing market prices down, making it nearly impossible for Dutch recyclers to remain competitive. The wave of bankruptcies underscores the sector's precarious position. Without new measures—such as restricting cheap virgin plastic imports and enforcing stricter blending requirements—the Netherlands’ circular economy goals may be in jeopardy.

Logistical challenges
“Setting up a circular business sounds appealing, but in practice, it’s often challenging,” says insolvency account manager Jasper van Leeuwen. “These companies must invest heavily, and logistics are complex. On top of this, demand for circular products is still lagging — while competing with traditional businesses that operate at a lower cost and face fewer sustainability regulations.”

Details of the Re-Match auction
View all lots from the Re-Match auction here. A public viewing day will be held on Wednesday, April 16, from 9:00 AM to 12:00 PM. The auction closes on April 23 at 2:00 PM.