Slight increase in bankruptcies in 2016

construction industryConstruction industry.Photo:

In the fourth quarter of 2016, fewer bankruptcies were registered compared with the same quarter in 2015. In 2016 as a whole, however, there were more bankruptcies than in the year before.

The total number of bankruptcies in 2016 was 4 544, which is an increase of 1.8 per cent compared with 2015. The largest increase in percentage terms was in the counties of Hordaland, Aust-Agder and Rogaland, with 28, 22 and 19 per cent more bankruptcies respectively. Hordaland is also the county with the largest rise in absolute figures, with a total of 132 more bankruptcies.

Seven out of ten bankruptcies, a total of 3 308, related to enterprises (except sole proprietorships). Twenty-five per cent of these enterprises were in construction, and 25 per cent were in wholesale and retail trade. The remaining 1 236 bankruptcies related to sole proprietorships and personal bankruptcies. Forty-one per cent of these were in construction.

In the fourth quarter of 2016, 1 031 bankruptcies were registered. This is a decrease of 8 per cent compared with the same period in 2015.


Source: SSB / Norway Today