Helsinki: The number of companies filing for bankruptcy in Finland rose to a 30-year high in 2025, according to data released by Statistics Finland on Friday. Just over 3,900 companies declared bankruptcy last year, the highest annual figure since 1996, when the country was emerging from an economic depression triggered by the collapse of trade with the Soviet Union and a banking crisis. The firms that went bankrupt last year employed around 14,300 people.

According to Anadolu Agency, senior statistician Mira Kuussaari stated that small and medium-sized companies were primarily affected, highlighting the significant impact on employment. In December alone, 360 bankruptcy proceedings were launched, marking a 34% increase compared to the previous year.

Statistics Finland indicated that the current wave of bankruptcies began in 2023, with an average of about 3,600 companies filing annually over the past three years. This is a stark rise compared to the yearly average of around 2,700 companies during the 2010s.

The construction sector recorded the highest number of bankruptcies, with 768 firms filing last year. However, Kuussaari noted that insolvencies in this sector had peaked in 2023, and in virtually all other sectors, the trend has been upward.