About 390 companies and institutions bankrupt

About 390 companies and institutions (excluding one-man businesses) were pronounced bankrupt in August 2005. This is 13 percent less than in August 2004. In July, the number of bankruptcies was 7 percent less than in the same month of the previous year.

The number of bankruptcies pronounced in a certain month is closely connected to the number of days the courts are in session in that month and may fluctuate strongly from month to month.

Therefore the moving three-month average gives a more accurate representation of the development. This average was 404 in August, 12 percent less than in August 2004.

For the whole of 2004, about the same number of companies and institutions (excluding one-man businesses) was pronounced bankrupt as in 2003. In the period January - August 2005 the number was 3 percent less than in the same period last year.

Bankruptcies of companies and institutions (excluding one-man businesses)