More than 430 companies and institutions bankrupt in June

10/08/2005 12:00

More than 430 companies and institutions (excluding one-man businesses) were pronounced bankrupt in June 2005. This is 15 percent less than in June 2004. In May, the number of bankruptcies was almost as high as in the same month of the previous year.

The number of bankruptcies pronounced in a certain month is closely connected to the number of days the courts are in session in that month and may fluctuate strongly from month to month.

Therefore the moving three-month average gives a more accurate representation of the development. This average was 413 in June, about 2 percent less than in May.

For the whole of 2004, about the same number of companies and institutions (excluding one-man businesses) was pronounced bankrupt as in 2003. In the period January - June 2005 the number was 3 percent less than in the same period last year.

Bankruptcies of companies and institutions (excluding one-man businesses)

Bankruptcies of companies and institutions (excluding one-man businesses)