Decline in company bankruptcies continues

In Denmark, the rate of company bankruptcies is returning to normal levels. March saw a 2.3% drop in active business failures compared to February, with 206 bankruptcies, according to Statistics Denmark’s Friday report. The first quarter of the year shows a 26% decrease in bankruptcies from the same period last year. Allan Sørensen, Chief Economist at Confederation of Danish Industry, is hopeful that the trend signifies an end to the high number of bankruptcies. He predicts fewer bankruptcies in 2024 compared to 2023, noting that almost all COVID-19 loans are repaid and declining energy and commodity prices are improving business finances.