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Altogether 209 bankruptcies were instigated in October 2022

release 16/11/2022 | Bankruptcies and business restructuring proceedings 2022, October

According to Statistics Finland, 209 bankruptcy proceedings were instigated in October 2022, which is exactly the same number as in the corresponding period one year earlier. The number of staff-years in enterprises that filed for bankruptcy was 848, which is 162 staff-years fewer than in October of the previous year.

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Altogether 209 bankruptcies were instigated in October 2022.
In October 2022, the number of staff-years in enterprises that filed for bankruptcy totalled 848.

Bankruptcy proceedings were instigated most in the industry of other services

In October 2022, the number of instigated bankruptcy proceedings was lowest in the industry of agriculture, forestry and fishery, which had five bankruptcy proceedings. Correspondingly, most bankruptcy proceedings were instigated in the industry of other services. Altogether 75 bankruptcy proceedings were instigated in the industry. The main industry of other services includes information and communication services, financial and insurance activities, real estate activities, professional, scientific and technical activities, administrative and support service activities, education services, human health and social work activities, and arts, entertainment and recreation activities.

Instigated bankruptcy cases refer to enterprises, corporations or natural persons which have filed for bankruptcy. The instigation of bankruptcy proceedings does not always mean an enterprise or own-account worker “goes under” in the actual sense. Bankruptcy as a trial is a complicated legal process involving several stages, in which proceedings may be interrupted at different stages.