Børsens News Service in English
No Respite From Bankruptcies
05-08-2010
13:34
Despite encouraging signs elsewhere in the economy, the number of companies declaring bankruptcy remains at a record level. According to new figures from state analysis bureau Statistics Denmark, the number of monthly bankruptcies is still higher in 2010 than in any previous year. A total of 548 companies were declared insolvent in July compared to 537 in June.
"In our view, everyday life has become easier for many businesses. Order books are not quite as thin as before. Domestic consumers are buying more goods while external demand is also rising” Jyske Bank Senior Economist Niels Rønholt said in a commentary. “But still the level of [economic] activity is obviously a lot lower than before the financial crisis, and therefore we are still witnessing many bankruptcies”.
Currently the nation’s bankruptcy rate is three times what it was in 2006.
"In our view, everyday life has become easier for many businesses. Order books are not quite as thin as before. Domestic consumers are buying more goods while external demand is also rising” Jyske Bank Senior Economist Niels Rønholt said in a commentary. “But still the level of [economic] activity is obviously a lot lower than before the financial crisis, and therefore we are still witnessing many bankruptcies”.
Currently the nation’s bankruptcy rate is three times what it was in 2006.
*****||*****No Respite From Bankruptcies*****||*****Despite encouraging signs elsewhere in the economy, the number of companies declaring bankruptcy remains at a record level. According to new figures from state analysis bureau Statistics Denmark, the number of monthly bankruptcies is still higher in 2010 than in any previous year. A total of 548 companies were declared insolvent in July compared to 537 in June.*****||*****
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