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Home BUSINESSBankruptcy on rise
Thu, 13 Jun, 2013 02:51:02 AM
FTimes-STT Report, June 13
The number of bankruptcy has gone up in the country, according to Finland customer information.
A total of 1600 companies have applied for bankruptcy, so far, this year.

If the number of bankruptcy continues increasing at the present rate, the figure may reach the second highest in the 2000s.

The ever highest number of bankruptcy cases was recorded after financial crisis in 2009 when the total number of bankruptcy applications reached 3,763.

This year most of the bankruptcy cases were recorded in April and most of the business organisations were wholesale and retail chain companies. Applications from hotel and catering sectors are also on the rise.
There is clear difference between provinces as well. Most bankruptcies are from Päijät-Häme, Middle Ostrobothnia and North Karjala. The bankruptcy rate has gone up by 9 per cent in Uusimaa.
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