Fewer bankruptcies

Far fewer go bankruptFar fewer go bankrupt.Photo: Bisnode

Figures from Bisnode, a data and analysis company, show that businesses filing bankruptcy are on the way down. In August, there were 18.4 percent fewer bankruptcies and forced closures than in the August of last year.

 

So far this year, the number of bankruptcies and forced closures has decreased by 2.6 percent compared with the same period from last year. “The decline in the number of bankruptcies is gratifying, and a clear indication that business is improving,” says credit economist Per Einar Ruud from Bisnode.

In the first eight months of the year, 3979 companies went bankrupt or were forced to close by the authorities. Overall, that is a decline of 2.6 percent from the same period last year. Over a 12 month period, the number of bankruptcies and forced closures has decreased by 1.9 percent.

“We have seen over time that there are fewer businesses going that way. This is a nice message for the Norwegian economy, says credit economist Per Einar Ruud from Bisnode.

“The future looks bright, as recently, there have been many positive signals from the important oil and gas sector,” Ruud said.

There is a decline in bankruptcies in most industries. Industry, tourism, services and transport all fall in bankruptcies.

“We also see an improvement for real estate, construction, construction sites, hotel and restaurant industries. It is especially nice as there are industries that have been bothered with many bankruptcies in recent years, says credit economist Ruud.

 

© NTB Scanpix / Norway Today

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