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Decrease in the Danish bankruptcy may be the calm before the storm

the First half of 2020 has featured the lowest number of bankruptcies in three years, according to figures from the data and data Experian.

But the low number of bankruptcies may very well be the calm before the storm, assesses the Danish business world, who fear a big konkursbølge in the second half of the year.

- This is due to there usually goes a little time, from a crisis framework, to problems framework the individual company, which must end with turning the key on, explains Kristian Writes, an economist in the Danish business.

He looks at the same time a big risk that more companies are coming to turn the key on, when the current stimulus packages will take place over the summer.

One of the hjælpepakkerne is the scheme about salary compensation. The covered wage bill for billions of dollars of repatriated employees.

According to Experians numbers have a total of 2866 businesses had to shut down due to bankruptcy during the first six months of 2020.

in addition to hjælpepakkerne can the number of bankruptcies have been influenced by the fact that the Danish courts have been closed down for a period during the coronaudbruddet.

It will say that there may be bankruptcy proceedings, which have not yet been dealt with in the courts.

Exactly how big and dramatic konkursbølgen in the second half threatens to be, Kristian Writes do not say.

But he estimates that the risk for it is great.

- A new survey from Statistics Denmark shows that 17 percent of service companies estimates that there is a risk that they may be settled within the next three months because of coronakrisen.

- It is particularly hotels, restaurants and travel agencies, who are concerned about having to turn the key on, says Kristian Writes.

According to the industry organisation Horesta, which among other things represents the hotels and restaurants, is the phasing out of hjælpepakkerne, which help to create pessimism in serviceerhvervet.

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