The number of seasonally adjusted bankruptcies in Denmark in October was at 537, compared with 490 in September – an increase of 9.6 percent and the highest level since bankruptcy statistics began in 1979, according to Statistics Denmark.

According to the statistics, 3-5 year-old companies have mainly been hit, although even companies over 10 years-old were declared bankrupt.

Repossessions
Seasonally adjusted private repossessions were also up in October at 423 compared with 357 in September – an increase of 18 percent and the highest level since May 1995.

Hardest hit were sigle family homes and the hardest hit region was Copenhagen, closely followed by the capital island's other areas in Zealand.

“The increase in repossessions mirrors the deep crisis that Denmark continues to find itself in,” says Danske Bank Private Finance economist Las Olsen adding: “We can expect the number of repossessions to continue to increase in coming months.”