Large decline in bankruptcies in Oslo

The number of bankruptcies in Norway declined by 23 per cent in the first quarter of this year compared to the first quarter of last year. The largest percentagewise decrease was posted by Oslo with 51 per cent, accounting for nearly half of the overall decrease.

A total of 811 bankruptcy proceedings were opened in the first quarter of 1997, down 23 per cent compared to the first quarter of 1996. Some of the reduction is attributed to the Easter holiday, which this year fell at the end of March.

Of the 811 bankruptcy proceedings, 528 were business failures, while 283 were personal bankruptcies (including self-employed persons and wage-earners). The ratio between business failures and personal bankruptcies was nearly unchanged compared with the first quarter of 1996.

New Statistics

Bankruptcy proceedings, 1st quarter 1997.
Statistics are published every quarter in the Weekly Bulletin of Statistics. Banking and Credit Statistics Current Data 4/97 contains bankruptcy proceedings, issues (including corrected figures for 1996) and balance sheet figures (with specifications) for the National Insurance Fund. More information: Svein Lotsberg, tel. +47 21 09 45 26, e-mail: svl@ssb.no or Stein P. Eriksen, tel. +47 21 09 45 18, e-mail: spe@ssb.no.

Weekly Bulletin issue no. 20, 1997