Bankruptcies Up by 63 Percent in Iceland Skip to content

Bankruptcies Up by 63 Percent in Iceland

In the first 11 months of 2011, there were 1,432 corporate insolvencies, which is about a 63 percent increase compared with the same period in 2010.

centralrvk_ps

From central Reykjavík. Photo by Páll Stefánsson.

In November 2011, there were 115 corporate insolvencies compared with 101 in November 2010. The largest number of insolvencies was in financial and insurance activities, as stated on the website of Statistics Iceland.

On the other hand, in November 2011, 166 new private limited companies were registered compared with 117 in November 2010.

The largest number of new registrations was in wholesale and retail trade and repair of motor vehicles and motorcycles. In the first 11 months of 2011, 1,568 new private limited companies were registered.

ESA

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