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In December 2023 more bankruptcies than during the financial crisis 2009

release 17/01/2024 | Bankruptcies and business restructuring proceedings 2023, December

According to Statistics Finland, 244 bankruptcy proceedings were instigated in December 2023, which is 22 more than in December of the year before. In December, the number of staff-years in enterprises that filed for bankruptcy totalled 1,571, which is 717 staff-years more than in December 2022. During the past 12 months, 3,315 enterprises have filed for bankruptcy, which is more than during the financial crisis 2009.

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During the past 12 months, the number of enterprises that filed for bankruptcy has exceeded that of the financial crisis 2009.
The number of enterprises that filed for bankruptcy during the past 12 months is still at a clearly lower level than during the recession in the 1990s, when the number of instigated bankruptcy proceedings at its highest was over 700 per month.
In December 2023, most bankruptcy proceedings were instigated in the industries of other services, construction and trade. In the industry of other service activities, 100 bankruptcy proceedings were instigated, in construction 59 and in trade 35.