When the bankruptcy year 2022 is summed up, it marks the start of a major bankruptcy wave. Bankruptcies have increased sharply since the summer and December was no exception, with an increase of 26 percent. A total of 6,248 limited liability companies went bankrupt in 2022. The worst hit are sports halls, e-retailers, grocery stores and car repair shops.
Download the full list of this year's bankruptcies
Bankruptcies are increasing and the trend is expected to continue in 2023 – that is the conclusion when the credit reporting company Creditsafe presents full-year figures for the bankruptcy year 2022. The last six months have been dominated by strong increases every month. On an annual basis, the increase is eight percent, and the fact that it is not higher is due to low levels at the beginning of the year. Looking at the fourth quarter alone, the increase in bankruptcies is 38 percent.
– When we summarize the bankruptcy year 2022, we find ourselves in the middle of a bankruptcy storm. The forecast is that bankruptcies will continue to increase in the coming years. There are many reasons for this, but above all we see that both payment notices and debts with the Swedish Enforcement Authority for companies in high-risk industries are increasing. Many companies that historically would have gone bankrupt survived during the pandemic thanks to government support, but with deferred tax liabilities that are creeping ever closer. Add to that higher interest costs, high electricity and fuel prices and a recession. We are in an uncertain world with extremely many warning signs, says Henrik Jacobsson, CEO of Creditsafe.
Many new companies will go bankrupt
Above all, it is the combination of thousands of start-ups in recent years and our hitherto low bankruptcy rates that will contribute to rising bankruptcy trends. Since the share capital was reduced to SEK 25,000 (January 1, 2020), the number of new limited liability companies in Sweden has increased by 30 percent..
– During the pandemic, a record number of limited companies were started and these are now heading towards their most critical survival period. We know historically that the risk of bankruptcy is highest around 30 months. Soon many of these companies will start to appear in the bankruptcy statistics, explains Henrik.
Biggest bankruptcies in 2022
On the top list of the year's biggest bankruptcies is Örebro's largest private construction company – ByggTema, with almost 700 million in turnover. Byggtema's bankruptcy in March led to several of their projects coming to a standstill when subcontractors were not paid. The assistance company Lystra Personlig Assistans in Stockholm (571 million) and the clothing chain Indiska (391 million) are also among the biggest bankruptcies in 2022. In total, 30 companies with over 100 million in turnover have gone bankrupt.
Fraudulent companies in the top for the third year running
Sweden's largest VAT fraud scandal is clearly visible in the bankruptcy statistics this year as well. The five largest bankruptcies in terms of turnover can all be linked to VAT fraud (therefore excluded). Of the 20 largest, 10 companies have links to fraud. The European Public Prosecutor's Office describes the mobile phone scandal as the EU's largest VAT fraud ever. Read more here.
The counties with the strongest increase – Örebro increases the most
Bankruptcies in 2022 increased in a total of 15 out of 21 counties. The largest increases were noted in Örebro (42%), Östergötland (39%) and Uppsala (33%). The counties with the largest decrease on an annual basis are Gävleborg (-16%), Jämtland (-16%) and Blekinge (-13%). All metropolitan regions increased for the full year, with Västra Götaland County increasing the most.
Bankruptcies up 26 percent in December as well
In the last month of the year, 636 limited liability companies were registered as bankrupt, which can be compared to 504 in December the previous year. This is a significant increase of 26 percent. The largest bankruptcy in December was Energihem i Sverige AB with a turnover of 367 million.
Many newly started limited companies during the year
Starting a limited liability company remains popular. Almost 58,000 new companies were registered in 2022. There are a total of 737,000 operating limited liability companies in Sweden today.
Bankruptcies in relation to active limited companies
In terms of the total number of active limited liability companies, 0.85 percent went bankrupt in 2022. A relatively low figure that is partly due to low bankruptcy rates in the first half of the year and the large increase in the number of new limited liability companies. This is another reason why bankruptcies are expected to increase in 2023.
The industries that have grown the most in 2022
| Industry | Number | Percentage increase |
| Sports shops and sports halls | 62 | 138% |
| E-commerce | 201 | 72% |
| Grocery stores | 115 | 32% |
| Car repair shops | 224 | 27% |
| Software producers | 100 | 25% |
| Wholesale | 380 | 23% |
| Restaurants | 567 | 20% |
The largest number of bankruptcies in terms of total number are in restaurants (567).
Total number of bankruptcies 2012-2022
Bankruptcies per quarter
Bankruptcies per month
Survival rate – bankruptcy compared to active companies
Biggest bankruptcies in 2022
Creditsafe has excluded limited liability companies suspected of fraud or linked to the VAT fraud scandal. The companies are still part of the statistics, but are not mentioned as the largest this year.
| Business | Turnover (thousands of SEK) | Employees | Postal code | |
| 1 | ByggTema in Örebro Ltd. | 693 551 | 106 | ÖREBRO |
| 2 | Lystra Personal Assistance AB | 571 810 | 869 | STOCKHOLM |
| 3 | Indian Magazine Ltd. | 391 232 | 162 | STOCKHOLM |
| 4 | Energihem i Sverige AB | 367 533 | 175 | SUNDSVALL |
| 5 | QR Motor AB | 363 662 | 16 | THE KING BED |
| 6 | Per Jacobsson Construction Ltd. | 310 930 | 66 | HERO VILLAGE |
| 7 | Aros Construction & Management Limited Liability Company | 289 147 | 84 | VÄSTERSÅS |
| 8 | Campadre Scandinavia AB | 271 092 | 45 | STOCKHOLM |
| 9 | Infraservice Group Scandinavian AB | 229 891 | 32 | NASSJÖ |
| 10 | Life Together AB (publ) | 211 716 | 384 | NECK |
Download the list of all bankruptcies in 2022
Number of bankruptcies per county
| County | Dec. 2022 | Dec. 2021 | Annual basis 2022 | Annual basis 2021 | Annual basis Trend % |
| Blekinge | 4 | 3 | 55 | 63 | -13% |
| Valleys | 14 | 7 | 135 | 106 | 27% |
| Gotland | 2 | 2 | 18 | 15 | 20% |
| Gavleborg | 9 | 12 | 132 | 158 | -16% |
| Halland | 12 | 14 | 171 | 151 | 13% |
| Jamtland | 4 | 3 | 47 | 56 | -16% |
| Jonkoping | 16 | 20 | 175 | 174 | 1% |
| Kalmar | 12 | 5 | 118 | 95 | 24% |
| Kronoberg | 10 | 14 | 125 | 126 | -1% |
| Northbotten | 4 | 5 | 96 | 79 | 22% |
| Skane | 94 | 74 | 848 | 823 | 3% |
| Stockholm | 221 | 166 | 2 149 | 2 044 | 5% |
| Sodermanland | 15 | 13 | 162 | 155 | 5% |
| Uppsala | 24 | 16 | 224 | 169 | 33% |
| Varmland | 5 | 8 | 118 | 127 | -7% |
| Vasterbotten | 13 | 11 | 103 | 111 | -7% |
| Västernorrland | 14 | 7 | 116 | 107 | 8% |
| Vastmanland | 12 | 9 | 150 | 126 | 19% |
| Vastra Gotaland | 110 | 80 | 883 | 804 | 10% |
| Orebro | 15 | 15 | 186 | 131 | 42% |
| Ostergotland | 21 | 15 | 212 | 153 | 39% |
| Not defined | 5 | 5 | 25 | 34 | |
| Total | 636 | 504 | 6 248 | 5 807 | 8% |
Source: According to Press Release
