Over 6,000 companies in Norway have gone bankrupt in the past year

bankruptciesBankruptcies.Photo:Flickr

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In the last twelve months, 6,311 companies have gone bankrupt or have been forced to shut down, according to figures from analysis company Bisnode.

  • “Bankruptcies are an important indicator of how things are doing in Norwegian business. When we now see that we are approaching that level during a financial crisis, it is a little worrying,” says credit economist Per Einar Ruud of Bisnode.

The number of 6,311 bankruptcies in the past year is equal to the level of bankruptcy during the financial crisis of 2009. At that time, 6,449 companies went bankrupt.

Ruud points out that the weak krone is favorable for export companies, but that a large part of Norwegian businesses are based on sales of import goods.

  • “When the weak krone causes the purchase price to rise, prices must be set to keep margins. But many industries are experiencing such great competition that it is impossible to do so. Then it can quickly end up in bankruptcy law,” says the credit economist.

The analysis company Bisnode states that the bankruptcy figures give a picture of how things are going in a business world as a whole.

  • “Bankruptcy for a company provides powerful effects for other companies that do not get their money, so they themselves run the risk of shutting down. It is therefore important that you take good care of the businesses you trade with and regularly check your credit performance,” says Ruud.

© NTB Scanpix / #Norway Today

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1 Comment on "Over 6,000 companies in Norway have gone bankrupt in the past year"

  1. Shahrzad Mirzaagha | 17. November 2019 at 01:31 | Reply

    It is because of high unemployment that in reality exist in Norway that make the sircle of economy go slower and statistic sentral unit in finansial Department try to manipulate and hide in database the high unemployment , I Found out when i was unemploy with strong left frozen shoulder and strongly tramatised from 1 sep 2014 , å network in system sicretly made a aktiv fake organisation number 914135125 in database om my name for to hide that i was unemploy and vulnerable and they manipulate sicretly in my jornals and documents they do this kind of manipulasion in SSB to Some pasients who are unemploy as well , this way they fool ppl and show unemployment lower. This is a cheating and manipulation å sicretly nettwork in finansialdepartemants in some countries like norway do to vulnerable pasients who are unemploy as well ,
    finansialdepartment statistic sentral units SSB manipulate in database for to hide high unemployment.and this way they deny all their pasients rights too.and healthcare save money too. I know about it because they did it to me too.in 2015 and 2016 , it means intern in ssb database system they never registrert me as unemploy while i was unemploy . they do It to many others too.this way some others on top in finansial Departments get richer too by dumping the vulnerable pasients.

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