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Swedish hotel and restaurant bankruptcies set to triple in April: credit agency UC

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Sweden is witnessing a jump in bankruptcies this month with the rate among hotels and restaurants set to triple to 3.6 from 1.2 per day a year ago, and 3.1 retailers per day going under versus 1.8 per day a year earlier, credit information firm UC said on Thursday.

The rate of bankruptcies in the hotel and restaurant segmentwill probably accelerate further, UC said.

It said on Thursday that in the retail sector in April it was primarily durable goods retailers that were struggling with many apparel stores reporting sales drops of 50% or more. UC’s forecasts were based on data for the first half of the month. A quarter of the durable goods retailers it polled between April 5 and April 7 said turnover had slowed at least 60% in the past week versus a year earlier.

 

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what? But they didn´t shut down... I heard that if you didn´t shut down everything would be fine

Swedish hotel?Swedish restaurants?Is this report for real?As if Sweden lives from tourism!!!!Imagine what will happen in countries that really need tourism to survive.... Greece,Italy,Spain,Portugal,Croatia,Malta....

Crikey. Doesn't insurance cover financial loss? 😲

We're ready to buy...

Poor old Sweden. First mass muslim immigration, then the mass bombings, now this. Socialism at its worst

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