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Bankruptcies on the Increase

Published torsdag 8 januari 2009 kl 10.56

The Swedish business and credit information agency UC says the number of bankruptcies here increased by 12 percent last year.

Business failures in Sweden accelerated during December, breaking a trend lasting several years of fewer companies going out of business.

The agency says more bankruptcies can be expected during 2009, with around 9000 Swedish companies in very difficult economic circumstances.

The worst hit branches have been companies working with transport and private services, hotels and restaurants. The Stockholm region, however, has weathered the economic crisis much better than the rest of the country.

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