In 2024, a total of 10,141 limited liability companies went bankrupt – a new annual record and an increase of 23 percent compared to the previous year. The bankruptcies have affected many larger companies and resulted in over 33,000 job losses. One of the main reasons is debts from tax deferrals. A total of 1.3 percent of Sweden's limited liability companies went bankrupt during the year.
When the credit reporting company Creditsafe summarizes the bankruptcy year 2024, it is clear that the number of bankruptcies has reached another record level. During the period January to December, a total of 10,141 limited liability companies went bankrupt, compared to 8,259 the year before and 6,289 two years ago. This year's bankruptcies have affected 33,193 employees, an increase of 38 percent compared to the year before. In total, 74 bankrupt companies had more than 100 million in turnover, compared to 43 companies the year before. In addition, there are three billion-dollar companies.
– 2024 has been a dark year for many entrepreneurs. Recession, inflation, high interest rates and reduced purchasing power led to difficult conditions where even well-established companies had to fight for their survival. Unfortunately, we expect bankruptcy rates to remain high during the beginning of 2025, but we see hope for brighter times towards the middle of the year if interest rates continue to decline and the economy recovers, says Henrik Jacobsson, CEO of Creditsafe.
Bankruptcies in relation to number of companies
In terms of the total number of limited liability companies, the proportion going bankrupt is now the highest since 2013. During the year, 1.3 percent of Sweden's 780,000 limited liability companies went bankrupt. This compares with 1.08 percent the year before and 0.85 percent two years ago. Since the number of limited liability companies has almost doubled over the past ten years, it is important to analyze bankruptcy risk in relation to the total number of companies in the market.
– The pandemic and reduced share capital have contributed to a large influx of new limited companies in recent years. Although we are seeing record high levels of bankruptcies, the increase in the proportion of bankruptcies from a historical perspective is not as dramatic. It is important now in tough times to remember that the majority of companies will survive, after all, says Henrik.
Real estate, car dealerships and industry
The industries hardest hit by bankruptcies in 2024 were real estate companies (62%), car dealers (51%) and the industrial sector (35%). Retail was the only industry to decline, but only by one percent and a total of 975 bankruptcies. The construction sector topped the list with the most bankruptcies, a total of 1,815 construction companies – an increase of 22 percent. In addition, 890 were noted in hotels and restaurants, an increase of 22 percent.
Tax deferrals drive many bankruptcies
Of all bankruptcies this year, 27 percent have had a temporary tax deferral – a total of 2,640 limited liability companies. Among the 100 largest bankruptcies, a full 67 companies had previously been granted a deferral of their taxes.
– The tax deferrals have undoubtedly contributed to the high bankruptcy rates. Many companies have not been able to repay their debts to the state. While the deferrals have been an important help for many companies to keep their operations running, they have been artificial respiration for less viable companies. In 2025, major challenges related to the tax deferrals continue to await, as they can no longer be extended. We therefore urge companies to closely follow up with their customers and suppliers, says Henrik.
Doubling in the number of reconstructions
Several well-known companies also filed for restructuring in 2024, including Brödernas Hamburgekedja, Buttericks, Mathem, Plantagen, Convendum, Na-kd and Leos Lekland. In total, more than twice as many restructurings were initiated in 2024 compared to 2023, reflecting the financial challenges facing many larger companies.
Among the year's largest bankruptcies are five construction companies
The largest bankruptcy in 2024 was caused by component manufacturer IAC in Gothenburg, with almost 7 billion in turnover and 1411 employees. This was followed by two more billion-dollar companies in the construction industry – Gärahovs Bygg Aktiebolag in Vaggeryd and Henrik Andersson Byggnads AB in Höganäs.
Two of the bankrupt limited companies were started almost 100 years ago – the industrial company Aktiebolaget Nittsjö Keramik (1917) and the real estate company OP Värnamo Järnet 1 AB (1925).
The year ended with a record high in December
During December, a total of 930 limited liability companies went bankrupt, which is an increase of eight percent. This is far above the average for a December month. As many as nine companies had over 100 million in turnover, which is unusual. The largest bankruptcy was one of the country's leading charging operators for electric vehicles – Eways AB, with 261 million in turnover.
Continued decrease in new companies
A total of 46,785 new limited liability companies were started in 2024. This is six percent fewer than the previous year. The number of newly registered companies in Sweden is currently at its lowest level in six years.
Bankruptcies by industry
| Industry | 2022 | 2023 | 2024 | Difference 2024 vs 2023 |
| Car dealer | 99 | 140 | 212 | 🔺 51% |
| Car repair shops | 224 | 258 | 302 | 🔺 17% |
| Construction | 1 079 | 1 487 | 1 815 | 🔺 22% |
| Retail | 757 | 984 | 975 | 🟢 -1% |
| E-commerce | 184 | 227 | 282 | 🔺 24% |
| Real estate company | 168 | 205 | 332 | 🔺 62% |
| Hotel & Restaurant | 589 | 727 | 890 | 🔺 22% |
| Industry | 256 | 304 | 409 | 🔺 35% |
| Consulting company | 407 | 540 | 695 | 🔺 29% |
| Wholesale | 380 | 458 | 511 | 🔺 12% |
| Trucking companies | 163 | 197 | 233 | 🔺 18% |
Bankruptcies between 1999-2024
Percentage of bankruptcies vs. number of limited companies
Bankruptcies by month and year
Biggest bankruptcies in 2024
| Business | Turnover thousand SEK | Employees | Postal code | |
| 1 | International Automotive Components Group Sweden AB | 6 849 061 | 1 411 | GOTHENBURG |
| 2 | Gärahovs Bygg Aktiebolag | 1 670 484 | 141 | VAGGERYD |
| 3 | Henrik Anderssons Construction AB | 1 299 016 | 169 | HÖGANÄS |
| 4 | V-TAB AB | 614 736 | 146 | GOTHENBURG |
| 5 | Rentandgo Fleet Export AB | 486 990 | 22 | FRILLES SAUCE |
| 6 | NVBS Project AB | 396 136 | 23 | SUNNY |
| 7 | C4 House AB | 338 918 | 53 | CHRISTIAN CITY |
| 8 | Auto Lounge Group | 294 747 | 1 | FRILLES SAUCE |
| 9 | JW House AB | 270 005 | 11 | VELLINGE |
| 10 | Odd Molly Sweden AB | 269 024 | 55 | STOCKHOLM |
Bankruptcies in December 1999-2024
The largest bankruptcies in December
| Business | Turnover thousand SEK | Employees | Postal code | |
| 1 | Eways AB | 261 725 | 93 | STOCKSUND |
| 2 | Norrland VA AB | 193 120 | 85 | UPPLAND VÄSBY |
| 3 | Ringtail Interactive | 150 292 | 114 | SUNNY |
| 4 | Stay In Sweden AB | 141 775 | 11 | BROMA |
| 5 | Nyströms Press Foundry AB | 134 727 | 37 | GNOSJÖ |
| 6 | Fuelwood Group Sweden AB | 134 002 | 1 | UPPSALA |
| 7 | Lärkängens Building & Construction AB | 115 701 | 26 | KARLSTAD |
| 8 | Sunroof Sweden AB | 108 728 | 41 | VÄNERSBORG |
| 9 | Auto Medusa AB | 102 086 | 2 | SALTSJÖBADEN |
| 10 | Roger Erikssons Transport & Forwarding AB | 99 375 | 49 | YSTAD |
According to the press release.
