Number of bankruptcies still falling

In the second quarter of 2010, the number of bankruptcies was 1,240. This is a fall of 10 percent compared with the same period last year.

The largest decreases in percentage terms were in the counties of Sør-Trøndelag (-50 percent), Rogaland (-38 percent) and Hedmark (-36 per cent). Sør-Trøndelag and Rogaland are also the counties with the highest fall in absolute figures, with 36 and 38 less bankruptcies respectively.

In some counties, the number of bankruptcies went up. The largest decrease was in Troms and Nord-Trøndelag, with 21 and 18.5 per cent more bankruptcies respectively.

Most in wholesale and construction

Seven out of ten bankruptcies, a total of 845, were related to enterprises (except sole proprietorships). Compared with the second quarter last year, this number went down by 17 per cent. A total of 27 per cent of the bankruptcies relating to enterprises were in the wholesale and retail trade.

A total of 395 bankruptcies were related to sole proprietorships and personal bankruptcies. In this group, there was an increase of 9 per cent compared with the second quarter of 2009. One out of three sole proprietorships that went bankrupt in the second quarter were in construction.

So far this year, the number of bankruptcies is 2 451. This is a drop of 12.5 per cent compared with the same period of 2009.

Few women go bankrupt

A total of 9.4 per cent of the sole proprietors that went bankrupt in 2009, were women, whereas a total of one in four sole proprietorships are run by women.

Source: Statistics Norway

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The Norwegian American

Published since May 17, 1889 PO Box 30863 Seattle WA 98113 Tel: (206) 784-4617 • Email: naw@na-weekly.com

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