More Norwegian companies went bankrupt in August compared to the same month last year 

In August, 215 companies went bankrupt in Norway. That is 52% more compared to August last year. 

“The summer’s boom in bankruptcies continued in August. Based on the last few months, we see strong bankruptcy growth, and the autumn does not look promising,” managing director Christian Aandalen of Fair Group stated.

In August, 215 companies went bankrupt, compared to 140 in August last year. So far this year, 1,974 companies have gone bankrupt, almost 15% more compared to the same period last year.

In August, the bankruptcies also became larger and more serious. The businesses that went bankrupt had a turnover of approximately NOK 1.1 billion, up 86% compared to August last year. A total of 723 employees were affected by the bankruptcies.

“Record high energy prices heading into winter mean that we expect debt collection when it comes to businesses and private individuals,” Aandalen stated.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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