Builders Drive Swedish Bankruptcies to Highest Level in Decades

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The number of Swedish companies going out of business reached the highest level since at least 1999, with several large builders going bankrupt as construction of new homes is screeching to a halt.

As the Swedish economy is showing signs of buckling under the pressure of elevated inflation and rising interest rates, bankruptcies increased by 38% in August, according to a monthly release from Creditsafe. The credit reference agency registered 5,000 company defaults in the first eight months of this year, up 37% from 2022 and the highest since it started collecting data.

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