Bankruptcies fall for the fifth
Photo: Johan Nilsson/TT

Bankruptcies fall for the fifth month in a row

In March, the number of bankruptcies fell for the fifth consecutive month, according to credit-reporting company Creditsafe. The positive trend was confirmed by competitor UC.

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Creditsafe puts the number of bankruptcies during the entire first quarter at 2,557. This is a decrease of 8 percent compared to the corresponding quarter last year.

UC's figures show that bankruptcies in construction and retail increased by 7 and 27 percent respectively in March, while restaurant bankruptcies fell by 35 percent.

"It is particularly positive that fewer large employers are going bankrupt, which mitigates the effects on the labor market," says Creditsafe CEO Henrik Jacobsson in a press release.

However, both Jacobsson and UC warn of tougher times if higher interest rates and energy prices resulting from the Middle East war affect the Swedish economy.

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