Finland saw a 12.4% increase in the number of companies going bankrupt over 2024

In 2024, the number of bankrupt companies in Finland increased by 12.4% compared to last year. This was reported by the Finnish economic publication Kauppalehti on Tuesday, December 10.

According to the Finnish Bankruptcy Ombudsman's Office, 2,829 companies were declared bankrupt in Finland in the first 11 months of 2024. This is 12.4% more than in the same period in 2023 and higher than the total number of bankruptcies for the whole of last year (2,715).

"This year, the number of bankruptcies has averaged 260 companies per month. If the same pace continues in December, about 3.1 thousand companies will be declared bankrupt this year," the material says.

It is noted that the figure rose sharply in 2022, as before that (since 2015) the number of bankrupt companies has never exceeded the figure of 2 thousand.

Earlier, on August 13, it was reported that in Finland began a timber crisis associated with the ban on wood supplies from Russia. According to the data of the Sawmill Industry Association, production fell from 12 million to 10 million cubic meters. According to experts, the country is expected to face an acute shortage of timber, as well as a prolonged rise in prices.