Bankruptcies Rise Again with Hotels and Restaurants Hit Hardest

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

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 TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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