There is currently a great deal of uncertainty in several industries. Many businesses are at risk of going bankrupt during the year. According to statistics from Today’s industrybankruptcies must have increased for 17 months in a row.
According to Dun & Bradstreet, every month is pretty much a new record in the number of bankruptcies right now. And so far, it doesn’t look like it would be any different during the rest of the year, quite the opposite.
High risk of bankruptcy in the hotel and restaurant industry
The industries that have it most strained at the moment are companies in the hotel and restaurant industry.
According to Creditsafe’s statistics, which also Today’s industry reported on, nearly 730 companies within these two industries will go bankrupt in 2023.
Despite the dark figure, the number of bankruptcies in the restaurant industry doubled in both January and February 2024.
Stock photo of closed shop. Photo: Henrik Montgomery/TTÖOver 800 hotels and restaurants are expected to go bankrupt
During the next twelve months, Dun & Bradstreet estimates that another 845 hotels and restaurants will have to file for bankruptcy, which corresponds to approximately 3.2 percent of all companies in the industry.
– The reason for the worsening situation is that the companies have received more payment notices. We see that the debts to both the state and private companies are increasing, which affects creditworthiness and the risk of bankruptcy, says Henrik Hargéus at the research firm Dun & Bradstreet to Today’s industry.
Additional industry at risk of bankruptcies
Another industry that is in the danger zone when it comes to bankruptcies is the transport industry.
– Above all, it is smaller haulage companies and taxi operations that have been hit the hardest in the economy, says Henrik Hargéus to Today’s industry.
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