Increased number of bankruptcies

WorkplacePhoto: Norway Today Media: Workplace

After a steady decline in the number of bankruptcies since 2015, there was an increase of 16 percent in the second quarter this year compared with the same period last year.

The worse was businesses and individuals in Oslo, where the increase was 80 percent compared with the second quarter of 2015, according to figures from Statistics Norway (SSB).

Overall there were 1,352 bankruptcies in Norway during this period. Of these, seven out of ten were corporate bankruptcies. Most of these bankruptcies were in retail trade and construction activities.

The remaining bankruptcies were personal and sole proprietorships. The increase is less than 32 bankruptcies or 4 percent compared with the second quarter last year. Around half of these occurred in the construction industry as well.

In six of the counties the number of bankruptcies went down, most of Sogn and Fjordane had as much as 39 percent decline.


Source: NTB scanpix / Norway Today