The number of corporate bankruptcies decreased by 1.0 percent in November, compared to the same month the previous year.

This is shown by statistics from the business and credit information company UC, according to a press release.

”"Company bankruptcies in Sweden have been at an uneven level during the year, but we are now starting to see positive signs of stabilization. In November, we note a stabilization of bankruptcies, which indicates that we may be on the way to a brighter future. We are now seeing a decrease for the second month in a row, after an increase that has been going on since August 2022, which gives hope that the peak has been passed. Although companies continue to struggle with high costs and weak demand, there are indications that we may see a downward trend next year," says Vlasta Valan, Data scientist at UC.

The decline in the number of bankruptcies in the construction industry was noted to have decreased for the third consecutive month. Retail trade also shows a clear decrease, suggesting that consumption has begun to return to more normal levels. 

Creditsafe, with CEO Henrik Jacobsson, does not see the situation as brightly.

”"Unfortunately, bankruptcy levels remain high. Despite small improvements in some industries, economic uncertainty is still significant and is hitting the business community hard. We are now comparing against the high bankruptcy figures last year, so the percentage increases are not as sharp, but historically these are very high figures," he says in a press release.

The credit rating agency expects the number of bankruptcies in 2024 to exceed 10,000. 

”"A figure that Sweden has not exceeded since the crisis of the 1990s," the company notes.

Source: Dagens Industri