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Number of bankruptcies highest in 25 years in November 2023

release 20/12/2023 | Bankruptcies and business restructuring proceedings 2023, November

According to Statistics Finland, 345 bankruptcy proceedings were instigated in November 2023, which is 112 more than in November one year ago. In November, the number of staff-years in enterprises that filed for bankruptcy totalled 2,116, which is 30 staff-years fewer than in November 2022. During the past 12 months, 3,293 enterprises have filed for bankruptcy, which is the highest number in 25 years.

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The number of enterprises that filed for bankruptcy during the past 12 months was 3,293, which is the highest number since 1998. Thus, the number of bankruptcies has exceeded that of, for example, the financial crisis in 2009.
In November 2023, most bankruptcy proceedings were instigated in the industries of other services, construction and trade. In the industry of other service activities, 127 bankruptcy proceedings were instigated, in construction 69 and in trade 61.