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Altogether 224 bankruptcies were instigated in July 2023

release 21/08/2023 | Bankruptcies and business restructuring proceedings 2023, July

According to Statistics Finland, 224 bankruptcy proceedings were instigated in July 2023, which is 76 more than in the corresponding period one year earlier. The number of staff-years in enterprises that filed for bankruptcy totalled 858, which is 338 staff-years more than in July 2022.

The number of bankruptcy petitions is at a higher level than average, at around 3,000 bankruptcies per year. In summer 2021, the number was still one thousand bankruptcies lower.

Key selections

During the past 12 months, the number of bankruptcies was 22 per cent higher than in the 12 months preceding this period.
In July 2023, most bankruptcy proceedings were instigated in the industries of construction and other service activities. In the industry of other service activities, 68 bankruptcy proceedings were instigated, and in construction 61 bankruptcies.
Over the 2000s, the number of bankruptcies in July has never been as high as in July 2023.