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Altogether 995 bankruptcies were filed in first quarter 1998, up 23 per cent compared to first quarter 1997. Some of the increase in bankruptcy filings may be due to the Easter week, which this year fell in April.
The number of bankruptcy proceedings increased by 23 per cent in the first quarter of this year compared to the first quarter of last year. The biggest increase occurred in Oslo, where bankruptcies more than doubled, making up 78 per cent of the total increase.
County statistics show big differences in the number of bankruptcy proceedings between first quarter 1997 and first quarter 1998. Of altogether 19 counties, 11 counties reported an increase. The biggest increases were seen in Oslo and Telemark, where the number doubled. In Oslo the number of bankruptcies increased by 117 to 259 and in Telemark from 19 to 42. They were followed by Sogn og Fjordane, with an increase of 86 per cent, from seven to 13. Aust and Vest Augder, however, reported a reduction of altogether 42 per cent, from 33 to 19. A similar decline was reported by Finnmark, where bankruptcies dropped from 21 to 12.
Of altogether 995 bankruptcy proceedings, 643 were business failures while 352 were personal bankruptcies (including self-employed and wage earners). The distribution between business and personal bankruptcies was unchanged compared to first quarter 1997.
Weekly Bulletin issue no. 20, 1998