Published 3 October 2022 at 12.06
Economy. Bankruptcies continue to increase – and since the summer it has been an increased proportion of companies that have received pandemic support.
Like the article på Facebook
During the month of September, bankruptcies increased overall by 13 percent compared to the same period last year. This is shown by the latest monthly statistics from the credit and business information company UC.
An increasing proportion of bankruptcies are made up of companies that received financial support during the pandemic.
During the month of August, 20 percent of the companies that went bankrupt were companies that received grants during the pandemic. During the month of September, the figure was 15 percent, while companies with pandemic support made up only seven percent of the total number of companies at risk of bankruptcy in the same period last year.
– The economic barometer shows reduced confidence in all industries right now, and retail and households are the most contributing factor. What we see in our statistics is that bankruptcies have turned upwards since the summer. Several industries that had a hard time during the pandemic are now having it even harder. For the companies exposed to crisis after crisis, the situation is no longer manageable. Record high electricity prices are putting pressure on companies and many find it difficult to pay back the pandemic subsidies when a recession is on the horizon. We are also beginning to see that the declining global economy is hitting Swedish exports, says Johanna Blomé at UC in a press release.
Bankruptcies have increased in seven out of ten industries that are included in UC's bankruptcy statistics.
< p>Bankruptcies in hotels and restaurants have increased by 25 percent and in retail by 45 percent during September compared to the same month last year.
In transport, however, bankruptcies continue to decrease and during the month of September they decreased overall by 45 percent.
– The Riksbank's interest rate increases and increased energy prices erode the purchasing power of the consumer, and especially the consumer durables trade has had it tough. Households reduce consumption of shoes, clothes and electronics, but also entertainment. The continued record low long-term confidence in the market contributes to fewer hotel and restaurant visits. But the bankruptcy situation in transport continues to be the lowest for a very long time, says Johanna Blomé.