A total of 910 companies were declared bankrupt in the first ten months of this year, compared to 1,317 in the same period in 2011, representing a 31 percent year-over-year decrease.
The latest data from Statistics Iceland shows that around 118 companies were declared bankrupt in October, the largest number within the construction industry.
At the same time, new registrations of private limited companies in October numbered 155 compared with 143 in October 2011. The largest number was within the real estate industry.
A total of 1,473 new private limited companies were registered during the first ten months of 2012, a five percent increase from the same period last year.
Click here to read about the number of registrations and insolvencies in September.
Click here to learn about our custom made photo book Iceland 2012 with the best pictures of the year.