Fewer companies going bankrupt

Fewer companies in Sweden are going bust, according to new figures published on Friday.

In May, 440 companies were declared bankrupt, a fall of eight percent from May 2006. So far this year, the number of bankruptcies is down 6 percent, according to credit rating agency UC.

The biggest change was noted in Norrland, with private service companies showing particular improvement.

Despite the overall good news, UC said that May had brought an unexpectedly large number of bankruptcies in retail companies, despite the current consumer spending boom.