There was a notable increase in the total number of bankruptcies in Sweden from week 13 (23/3-29/3) and onwards. This negative trend persisted for several months but has since then slowed down and is now on a lower level (an increase of only 11% when comparing to last year for weeks 27-31), much more in line with previous summer periods when fewer bankruptcies generally are reported. Larger companies with a revenue of more than SEK 25 million were initially hit to a greater extent, with an increase in bankruptcies of 51% for weeks 13-24, and subsequently affecting a relatively larger number of employees. This trend has now reverted back to a normal level. So far we have seen no big changes in payment remarks.
Taxi In the taxi branch we can see a large increase in the number of bankruptcies compared to the previous year. Since the number of impacted employees per company is quite small, it indicates that the affected taxi companies are fairly small.
Retail Clothing Compared to the same period last year the number of bankruptcies within the Retail Clothing sector has soared. The number of affected employees has remained the same, indicating that larger businesses are having greater problems.
Hospitality, Food & Beverages This is a branch that initially was severely impacted by the Coronavirus, with a dramatic increase in the number of employees affected. The trend, however, is slowly moving in the right direction even though the figures are still quite high for this sector – for the last 4 weeks (28-31) the increase is 78% but mainly comprises small companies.