264 bankruptcies filed in May

A total of 264 bankruptcy proceedings were instigated in May 2022, which is 17 fewer than in the corresponding period one year earlier, according to Statistics Finland.

The number of staff-years in enterprises that filed for bankruptcy was 1 038, which is seven staff-years lower than in the year before.

In order to prevent a wave of bankruptcies caused by the coronavirus pandemic, filing for bankruptcy was limited by temporary legislative amendments from 1 May 2020 to 30 September 2021.

In May 2022, the number of instigated bankruptcy proceedings was lowest in the industry of agriculture, forestry and fishery.

Altogether six bankruptcy proceedings were instigated in the industry.

Correspondingly, most bankruptcy proceedings were instigated in the industry of other services. Altogether 83 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 during a calendar year.