Sharp decline in number of bankruptcies reported in Norway in July

OsloPhoto: Fredrik Hagen / NTB

A total of 160 companies went bankrupt in Norway in July. That is almost 50% fewer than in 2019, according to figures from the analysis company Experian.

In a press release, Experian analyst Julie Berge says that July, compared to the rest of the year, is historically a month with few bankruptcies.

“Nevertheless, there have not been as few bankruptcies in the summer months in many years. In 2017, 2018, 2019, and 2020, there were 263, 267, 305, and 226 bankruptcies, respectively. This year there are a total of 160 July bankruptcies. That is the best number in many years, which was far from expected just a few months ago,” she said.

Compared with July in the pre-corona year of 2019, the decrease in the number of bankruptcies amounts to 47.5%, while the decrease is 29.2% compared with July last year.

So far this year, the bankruptcy decline is 19.5%, while the decline in the last 12 months is 19%. In total, there have been 1,930 bankruptcies so far this year and 3,624 bankruptcies in the last 12 months.

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

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