Since the start of the year, the number of bankruptcies in the retail trade has risen by 18 per cent, reports business and credit reference agency UC. May was a particularly dire month, as 73 filed for bankruptcy, an increase of 30 per cent compared to a year ago.
Above all, competition is growing in consumer durables; profit margins are falling as online stores, global markets and the weak Swedish currency squeeze retailers.
Previously, most of the firms that have filed for bankruptcy have had up to four employees, but UC is seeing a new trend in which larger companies, including chain stores, are going into liquidation.
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