Words by

Nanna Árnadóttir

@nannaarnadottir

Photo by

Natsha Nandabhiwat

In the last 12 months the percentage of corporate insolvency has decreased by 17% compared to the previous year, reports Statistics Iceland. 

In all there have been 879 corporate insolvancies since May last year, most of which were construction companies.

New private limited companies since last May increased by 7% compared to the prior 12 months. There were 1.956 new registrations in that period, the largest of which was in the finance and insurance sector.