More companies went bankrupt in 2019 than in 2018

bankruptciesBankruptcies.Photo:Flickr

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3,862 limited companies went bankrupt in 2019, according to new figures from the analysis company Experian. This was an increase of 2.6 percent compared to 2018.

Especially the construction industry which managed to survive last year, even with an increase in the number of bankruptcies by 9.34 percent in 2019 compared to the previous year.

Sales Director Per Ivar Kristiansen in the analysis company points to intense high competition, high price pressure and low operating margins as part of the cause.

In the retail trade, which has struggled with frequent bankruptcies in recent years, the figures show a slight decline. While in 2018 there were 974 companies that went bankrupt, 944 companies in the retail trade went bankrupt in 2019. This was a decrease of 3.08 percent.

In the overnight and hospitality industry, which has been subject to bankruptcy over time, there was an increase of 1.59 percent in the number of bankruptcies in 2019.

– “It is an industry with thin margins and large expenses. It will be exciting to follow it in the coming year,” says Kristiansen.

The figures from the analysis company Experian show only the corporations that went bankrupt in 2019, not forced liquidations or single companies that went bankrupt.

© NTB Scanpix / #Norway Today

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