Norway registered fewer bankruptcies in September

In September, 357 companies went bankrupt. That is less than expected and a decrease of 21.4% compared with the same month last year.

Credit economist Per Einar Ruud at Bisnode noted that more bankruptcies were expected when one considers the coronavirus crisis and recession.

“The compensation schemes have probably saved many companies, but the general support schemes have now been discontinued. 

“If the new schemes only apply to selected industries, there will soon be more bankruptcies towards the end of the year,” he said.

Hotels and restaurants

He believes that companies in the hotel, restaurant, and service industries are particularly exposed to risk. 

They stand out in terms of bankruptcies in September, with an increase of 7.6%.

Construction seems to be doing fine during the corona crisis. The sector has registered 24.2% fewer bankruptcies so far this year. 

Storage, transport, and real estate

There have been 28% fewer bankruptcies in storage and transport, and in real estate, there have been 21.1% fewer bankruptcies after the first nine months of the year.

Retail is also experiencing some good months, with 6.2% fewer bankruptcies so far this year.

© NTB Scanpix / #Norway Today