595 bankruptcies in December

In December last year, 595 businesses and institutions (excluding one-man businesses) were declared bankrupt, i.e. 13 more than in November. Most businesses and institutions declared bankrupt were active in the sectors trade, construction and financial services. With 109, the number of bankruptcies in the sector trade was substantially lower than in earlier months of 2013.

As the number of businesses declared bankrupt in a particular month is closely related to the number of days courts are in session, it may vary considerably from one month to the next. Therefore, the three-month moving average is a more reliable indicator. The average declined significantly, after having peaked at 751 in July. The three-month moving average was 640 in December, approximately the same as in November.

The bankruptcy rate in 2013 was exceptionally high. The number of bankruptcies was 12 percent up from 2012.

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