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Fall in the number of bankruptcies in Sweden in October

Friday, 04 November 2011
The number of corporate failures Sweden fell by 1 percent in October. So far this year, the number of bankruptcies fell by 4 percent over the same period last year, according to statistics from credit agency, UC.


This is the second consecutive month that the number of business failures decrease despite weaker growth in the Swedish economy than normal as well as the intensity of global economic turmoil.

In the transport sector saw increases in bankruptcies during the month as the number of bankruptcies in October stood at 545. So far this year, 4910 companies have gone bankrupt. Last year there were 5095 companies in the same period.

"How long and deep the recession will be and what impact it will have depends on the economic development of our economies and especially in the countries of the euro zone. UC's forecast for 2011 is still that bankruptcy number will end in line with the outcome last year," writes UC's Marketing Director Roland Sigbladh in a statement.
By Scancomark.se Team

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