Finland registered record number of company bankruptcies over past 25 years
Between November 2022 and November 2023, there were 3,293 company insolvencies registered in Finland – the highest number in the past 25 years, TASS reports
Tommi Veistämö, a senior statistician at Statistics Finland, said the number of bankruptcy filings was higher than during the 2009 financial crisis, “Moreover, in November, the number of bankruptcies in monthly terms was the largest,” he noted.
In November, the number of bankruptcies was the same as in March 2014. The previous time the same number of bankruptcies were registered happened in October 1997.
The largest number of bankruptcy proceedings in Finland was instigated in the service sector – 127 cases. There were 37 bankruptcies in the hospitality and catering sector, as well as 14 in the agriculture, forestry and fisheries sector.
In 2020-2021, for a short period of time, the authorities recorded less than 2,000 bankruptcies per year.
