Sweden is witnessing a jump in bankruptcies this month with the rate among hotels and restaurants set to triple to 3.6 from 1.2 per day a year ago, and 3.1 retailers per day going under versus 1.8 per day a year earlier, credit information firm UC said on Thursday.
The rate of bankruptcies in the hotel and restaurant segmentwill probably accelerate further, UC said.
It said on Thursday that in the retail sector in April it was primarily durable goods retailers that were struggling with many apparel stores reporting sales drops of 50% or more. UC’s forecasts were based on data for the first half of the month. A quarter of the durable goods retailers it polled between April 5 and April 7 said turnover had slowed at least 60% in the past week versus a year earlier.
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