Number of bankruptcies levels off

In the fourth quarter of last year, the number of bankruptcies was 1,183. That was an increase of only 0.7 per cent compared with the same period of the previous year. However, in 2009 as a whole the number of bankruptcies was 38 percent higher than in 2008.

The total number of bankruptcies in 2009 was 5,013. From 2008 to 2009, the largest rise in percentage terms was in the county of Finnmark, with a 112 percent increase. With 191 more bankruptcies, Oslo was the county with the highest rise in absolute figures. The number of bankruptcies went up in all counties in 2009.

Three out of four bankruptcies, 3,813 in total, were bankruptcies related to enterprises (excl. sole proprietorships). Compared with 2008, this number rose by 47 percent. One out of three bankruptcies related to enterprises was in wholesale and retail trade.

The remaining 1,200 bankruptcies were related to sole proprietorships and personal bankruptcies. In this group, there was an increase of 16 per cent compared with 2008. Four out of ten sole proprietorships that went bankrupt last year, were in the construction business.

Continued rise in the number of Norwegian-registered foreign companies

10 percent of all bankruptcies last year were Norwegian-registered foreign companies. The number of bankruptcies with this legal form went up from 285 in 2008 to 503 in 2009.

Source: Statistics Norway