In Denmark, the past year marked a significant surge in bankruptcies, hitting the highest level since 2010. Statistics Denmark reported that a staggering 3,078 companies faced bankruptcy, marking an almost 9 percent increase compared to the preceding year.
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The most affected sectors were construction and trade, together accounting for 45 percent of the total bankruptcies. Statistics Denmark's dataset encompassed companies with both staff and a turnover of at least 1 million Danish kroner, approximately 134,000 euros.
The Danish Chamber of Commerce pointed out that soaring interest rates notably contributed to the downfall of numerous construction firms. Moreover, businesses across industries grappled with mounting expenses and a decline in demand. Interestingly, the register highlighted that companies affected by the pandemic's aftermath represented a smaller portion of last year's bankruptcies.
Source: www.dst.dk