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Companies that went bust in Sweden  in the first three month  on 2012
Ten biggest bankrupt companies in February

Turnover thousand Number of employees
853 121 317 LB House Ltd
351 429 0 Kefren Properties IX AB West
127 411 38 Stir Källby Aktiebolag
115 968 39 Aviation Air Sweden AB
99 091 15 Lännersta Life Ltd
89 526 22 Blidö Construction Company Limited
85 675 0 Properties Kefren IX Mälardalen AB
57 858 36 TOR Air AB

Bankruptcies in the Swedish corporate sector continue to increase once more

Monday, 05 March 2012
Not long ago Sweden bragged about being the only eye in the stormy European economic climate but now the storm seems to have caught up with its economy. This is because the corporate sector has now begun to give way with increased observed stresses out there. As such increased corporate bankruptcies have persisted.

Practically, more than 500 companies went bankrupt in Sweden in February, an increase of 9 percent over the same month last year. The trend is reminiscent of the crisis year of 2009.

This came after an increase in business creation in the past two years as the government seemed to have taken a little notch down the step of making it easier to start a business.

In January, the bankruptcies stood at 17 percent compared to same month in 2011 and the gloomy trends continued in February.

"Consumer spending has fallen, as well as the rate of investment. This is hard primarily on smaller businesses, "said Krister Jonsson, Head Swedish sector of credit information company Creditsafe in a statement.

Bankruptcies in February meant that 1811 people lost their jobs according to Creditsafes compilation
In the crisis year of 2009 some 1083 companies went out of business during the first two months of the year. This year, the figure landed on some 1028 companies. Last year, 2011, the figure was 909 companies.

"The increase is a clear sign of slower growth and it is not unexpected. The European Commission recently stated that the 2012 will be a harder year than previously thought, "said Krister Jonsson.

The biggest bankruptcy of the company that went bust in February was Skåne’s construction company LB Hus which collapse and let 317 employees wanting.

On the list of the ten current largest stock market companies that went bankrupt in February are also three companies including the Danish real estate giant Kefrens which collapsed.

Even the airline sector is seeing a difficult period with the month of February seeing both Tor Air in Gothenburg and Air Sweden in Stockholm declared bankrupt.
By Team

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