Record bankruptcies in Finland: Over 2,700 companies closed in 2023

Finland experienced a significant surge in business bankruptcies in 2023, with a total of 2,700 companies going under – marking a 26% increase from the previous year. This rise represents the highest number of bankruptcies in the Finnish business sector since the 2009 financial crisis, when just over 2,200 companies were declared bankrupt.

Jaakko Nors, a product owner specializing in bankruptcies at Asiakastieto, draws a stark comparison to the past,