HELSINKI, Dec. 20 (Xinhua) -- In the past 12 months, 3,293 companies have filed for bankruptcy in Finland, which is the highest number in 25 years, Statistics Finland said in a press release published on Wednesday.
According to Statistics Finland's bankruptcy and corporate restructuring statistics, 345 bankruptcies were filed in November 2023, 112 more than in November last year.
During the past 12 months, the number of bankruptcy applications surged by 25 percent compared to the corresponding period in the previous year.
"The number of bankruptcy applications has grown faster than at the time of the financial crisis in 2009. In other words, the number of bankruptcies is the highest in 25 years," Tommi Veistamo, chief actuary at Statistics Finland, said in the press release.
Veistamo added that the number of bankruptcies is still far from the levels seen during the great depression in the 1990s.
In 1992, for example, 7,391 bankruptcy applications were filed in Finland.
Statistics Finland pointed out that the number of bankruptcies is increasing in almost all industries in the country.
The number of bankruptcies in industry is now lower than during the financial crisis in 2009, but that in the construction industry is almost the same as it was in 2009, Veistamo said. ■
