Thirty Percent Fewer Bankruptcies in Iceland Skip to content

Thirty Percent Fewer Bankruptcies in Iceland

Around 30 percent fewer bankruptcies were reported in Iceland in the nine months to October 2012 compared to the same period last year.

construction2004_ipa-sjoArchive photo copyright Icelandic Photo Agency.

According to the latest data from Statistics Iceland, a total of 789 companies were declared bankrupt in the first three quarters of 2012, compared to 1,122 in the same period in 2011, representing a 30 percent year-over-year decrease.

Last month, 128 corporate insolvencies were registered, the largest within the construction industry.

New registrations of private limited companies in September totaled 138, down from 150 in September 2011. However, when the first nine months of both years are compared there has been a six percent increase in 2012.

ZR

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