Bankruptcies Rise Again with Hotels and Restaurants Hit Hardest

The number of bankruptcies increased by eight percent in March compared to the same period last year, according to figures from the credit information company UC. The increase occurs after several months of decreasing bankruptcies.

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Bankruptcies Rise Again with Hotels and Restaurants Hit Hardest
Photo: Jonas Westling/TT

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The largest increase in bankruptcies occurred in the hotel and restaurant industry, with an increase of 61 percent compared to the same period last year.

Even in the construction industry, an increase in bankruptcies with eleven percent is visible.

According to Amanda Aldestam, analyst at UC, it is clear that the economic recovery is slow.

"The increase in bankruptcies in the restaurant, hotel, and construction trade is not surprising, as it reflects a dampened consumption willingness in the challenging economic climate, which particularly affects the sectors that are sensitive to changes in the economic environment," she says in a press release.

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

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