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Fall in Swedish corporate failures in September

Tuesday, 04 October 2011
The Swedish business bankruptcies fell by as much as 19 percent in September compared to the same month last year.
The decline is surprising with respect to the economic unrest that raging around and, given the sharp increase in bankruptcy that was reported in August.


Credit agency, UC which reports on the level of bankruptcy in the country believes that the explanation lies tact that the weakest businesses were knocked out early when the economy slowed. So far this year, bankruptcy has decline by 4 percent, reports the UC.
The number of corporate failures was 394 in September and in August, the number of bankruptcies was 18 percent.

"When the economy suddenly slows down, thing turns directly to many companies with weak liquidity and lack of financial reserves and they fell out. The big increase in bankruptcy in August was a sign of this. Thereafter, the situation has stabilized since most of the remaining players have a better economy after several good years and reserves to meet a certain economic downturn, "wrote UC's marketing director Roland Sigbladh in a statement.

The number of bankruptcies declined in all major sectors in September. The exception was the transportation industry where it was up.
By Scancomark.se Team

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