Icelandic bankruptcies slowing rapidly

Icelandic-money-02This June, 95 Icelandic companies filed for bankruptcy compared to 92 in June 2008, according to Statistics Iceland; a year-to-year increase of around three percent.

The largest group of bankrupt companies (23) were in building and construction and 20 of them were wholesalers or retailers.

Recent figures show a significant slowdown in monthly bankruptcies comparable to a year ago. This comes as good news following a total 29 percent increase year-on-year for the first six months overall. From January to June 2009, 508 Icelandic companies went bankrupt compared to 393 in 2008.

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Graph from mbl.is. Click to enlarge.

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