Bankruptcies, Q2 2001

The number of employees affected by bankruptcy has increased from 4 668 in the first half of 2000 to 4 945 in the first half of 2001. This is an increase of 6 per cent. The total turnover for these bankruptcies has increased from 4.5 billion kroner in the first half last year to 5.7 billion kroner this year. Out of 1 899 bankruptcy proceedings in the first half of 2001, 1 629 (86 per cent) had 4 or less employees. About 71 per cent of total bankruptcies in the first half of 2001 had a turnover of less than one million kroner.

There were 1 899 bankruptcy proceedings in the first half of 2001, which are 28 more bankruptcies than in the first half of 2000. The number of bankruptcies this year is the highest since the first half of 1996, with 1 900 bankruptcy proceedings.

Most bankruptcies in Oslo

14 out of 19 counties in Norway had an increase of bankruptcy proceedings compared to the first half of 2000. Oslo had most bankruptcy proceedings in Norway with 344 bankruptcies. This is 18 per cent of the total number of bankruptcies in Norway. Oslo had 368 bankruptcies at the same time last year, which was 20 per cent of the total number of bankruptcies in Norway. Rogaland had the largest reduction of bankruptcies this year compared to last year. Rogaland had 94 bankruptcies in the first half of 2001 compared to 153 at the same time last year. This is equivalent to 39 per cent reduction. Østfold and Nordland did also have a reduction in the number of bankruptcies, with 18 per cent and 12 per cent respectively. According to per centage, Oppland and Finnmark had the highest increase in bankruptcies of 56 and 33 per cent respectively.

Increase in personal bankruptcies

Out of 1 899 bankruptcy proceedings, there were 824 personal bankruptcies (covering self-employed and wage earners) and 1 075 business bankruptcies. Last year there were 803 personal bankruptcies. This is an increase of personal bankruptcies by 3 per cent compared to first half of 2000. The share of personal bankruptcies was 43 per cent, the same as last year.

In the first half of 2000 the manufacturing industries had an increase of bankruptcies of 30 per cent compared to first half of 1999. This increase has not continued for 2001. The number of bankruptcies has been reduced by 3 per cent this year compared to last year.

Tables:

• Table 3 Bankruptcy proceedings, by industry. 2. quarter 2000 and 2001