In January 2011, 95 companies entered into bankruptcy proceedings compared to 103 in January 2010, which is an almost eight percent decrease between years. Most bankruptcies took place in the construction sector.
Construction in Iceland. Copyright: Icelandic Photo Agency.
According to Statistics Iceland, the number of new companies has dropped as well. In January 2011, 140 new private limited companies were registered, while 157 new companies were registered in January 2010. This is a drop of 11 percent.
Most new private limited companies are in the wholesale retail market and in the auto mechanic repair sector.
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