This week's insights
SWEDISH DATA COVERING WEEKS 10-21
Public Holiday may have affected the data set for week 21
A notable increase in the total number of bankruptcies in Sweden can be seen from week 13 (23/3-29/3) and onwards. Recently the rate of increase has started to slow down but still remains on a high level compared to 2019. The average went from 137 to 168 during this period (weeks 13-21), indicating a clear trend. Larger companies with a revenue of more than SEK 25 million have been hit to a greater extent, with an increase in bankruptcies of 51%, and subsequently affecting a relatively larger number of employees. 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. From 22 to 38 for weeks 13-21 (+73%), and with the number of impacted employees being approximately 5 per company, we can see that the affected taxi companies are fairly small.
Retail Clothing Compared to the same period last year (week 13-21, 2019) the number of bankruptcies within the Retail Clothing sector has soared. It has moved from 16 (2019) to 52 (2020) which is an increase of +225%. The average of 19 employees per company affected has remained the same, indicating that larger businesses are having greater problems.
Hospitality, Food & Beverages This is a branch that has been severely impacted by the Coronavirus with +138% bankruptcies during weeks 13-21 compared to the same period last year (2019). There has been an even more dramatic increase in the number of employees affected; +273% (from 283 to 1057).