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Continued rise in bankruptcies in Norway

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Staff Writer | October 22, 2016
The number of bankruptcies continues to go up. In the 3rd quarter of 2016, the total number of bankruptcies was 998. This is an increase of 14 per cent compared with the same quarter in 2015.
Norway factory
North   Seven out of ten bankruptcies related to enterprises
The largest increase in percentage terms was in the counties of Troms, Østfold and Hordaland, with 107, 74 and 63 per cent more bankruptcies respectively. Hordaland is the county with the largest rise in absolute figures, with a total of 60 more bankruptcies.

The number of bankruptcies went down in nine counties, with the greatest reduction in Sogn og Fjordane, by 27 per cent.

Seven out of ten bankruptcies, a total of 713, related to enterprises (except sole proprietorships).

Twenty-five per cent of these enterprises were in construction, and 23 per cent were in wholesale and retail trade. The remaining 285 bankruptcies related to sole proprietorships and personal bankruptcies. Thirty-six per cent of these were in construction.

From January to September of this year, 3 513 bankruptcies were registered. This is an increase of 5 per cent compared with the same period in 2015.