Bankruptcies continue to decrease: "Possible brightening"

In February, the number of company bankruptcies decreased by 7 percent compared to the same month last year, according to figures from the credit information company UC.

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Bankruptcies continue to decrease: "Possible brightening"
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It is the second month in a row that bankruptcies are decreasing and according to UC, it signals "a possible brightening".

In the construction sector, the number of bankruptcies decreased by 17 percent. It is the seventh month in a row that bankruptcies are decreasing in the construction industry. In retail, however, bankruptcies increased by 21 percent.

According to Amanda Aldestam, analyst at UC, it is too early to conclude that a real turnaround has occurred.

"Bankruptcy levels are still high and many companies, particularly in retail and the hotel and restaurant industry, are struggling with major challenges", she says in a press release.

Last autumn, the opportunity to extend the tax deferments that many companies received during the pandemic expired, something that according to Amanda Aldestam can affect the number of bankruptcies in the coming months.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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