The Swedish credit information agency UC reports that there were still many corporate bankruptcies here in May, but the rate is slowing down.
During May, 603 Swedish companies went out of business. That’s 32 percent more than during the same month last year.
The rate of increases in bankruptcies so far this year is now 45 percent, which is better than the 51 percent at the end of the first quarter.
But UC also reports that more and more companies are having cash flow problems. The company’s head of marketing says this indicates the high rate of bankruptcies will continue during the Summer and Fall.