Fewer local businesses were forced to close in August.
A total of nine companies were declared bankrupt in the municipalities of Lolland, Guldborgsund and Vordingborg. In August last year, the figure was 13. That corresponds to a decline of just under 31 per cent.
The fall was therefore sharper locally than across Denmark as a whole. Nationwide, 250 companies went bankrupt, compared with 280 in August last year – a decline of 11 per cent.
The development follows the broader decline in Region Zealand, where the number of bankruptcies fell from 58 to 30. However, local businesses are not out of danger, according to Creditsafe.
- Although the level of bankruptcies is falling in Denmark, it is important to keep an eye on developments in areas such as Lolland, Guldborgsund and Vordingborg, where many companies depend on construction activity, tourism, retail and transport, says Morten Larsen, Country Manager at Creditsafe.
Two of the nine bankruptcies in the area were in the construction sector.
In Lolland, the number of bankruptcies fell from five to three, and the same was the case in Guldborgsund. In Vordingborg, the figure was unchanged at three.
- If demand weakens or financing conditions tighten, it can quickly have an impact on local businesses.
