In January this year 92 companies were taken into bankruptcy proceedings in Iceland compared to 73 companies in January 2009, which is a 26 percent increase between years. Construction is the industry worst hit by the wave of bankruptcy.
Construction is the industry worst hit by the wave of bankruptcy. Copyright: Icelandic Photo Agency.
These statistics were published on the website of Statistics Iceland. The report also revealed that 157 new private limited companies were registered in January 2010 compared to 233 in January the year prior, which is a decrease of 30 percent.
However, 96 limited partnerships were registered last month, a similar number as in the entire year 2009, when 97 limited partnerships were registered.
Most of the new limited partnerships are in the field of healthcare and social services, while most new private limited companies are in retail and car repair.
Click here to read more about bankruptcy statistics in Iceland.