Fewer companies go bust

The number of Swedish companies filing for bankruptcy fell by six percent in the first quarter of 2007, according to new figures.

Some 1,267 companies went bust in the first three months of the year, credit ratings company UC reported. The figures for March were even more promising, with the number of bankruptcies falling by seven percent compared to March 2006.

Much of the fall is due to fewer privately-owned service sector companies hitting the wall. Trucking companies are the main winners, while the number of bankruptcies among property and retail companies actually increased significantly.