2023 sees more bankruptcies than 2009 rescission year

A total of 3,315 enterprises filed for bankruptcy in 2023 and the number was higher than that of the year of financial crisis in 2009, according to Statistics Finland.

In December 2023, a total of 244 bankruptcy proceedings were instigated, 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.

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.