[ad_1]
The hotel and restaurant is the industry most affected by bankruptcies during the first three weeks of April.
Compared to the same period last year, the increase is 286 percent and the number of affected employees has increased by almost 1,500 percent compared to the same period last year.
– April will be summarized as a dark and destructive month that has particularly affected hospitality companies and their employees. Unfortunately, we haven’t seen the end of this yet, and many companies are fighting for life right now, says Stefan Westerberg, a senior economist at the Stockholm Chamber of Commerce.
The Stockholm Chamber of Commerce has previously analyzed the desertion of the consumption of foreign guests between March 15 and mid-summer. In total, an estimated consumption of SEK 36 billion disappears from the country and Stockholm’s share is approximately SEK 13.1 billion.
The effects have already started showing up in bankruptcy statistics.
During the first three weeks of April, 54 companies operating in hotels and restaurants in Stockholm county filed for bankruptcy. This represents an increase of 286 percent compared to the same period last year.
The number of employees affected by these bankruptcies is 696, which should be compared to just 44 in the same period last year. This represents an increase of 1,482 percent.
– It is the service professions that hit the crown crisis early and the effects are very dramatic there. It is the most affected sector so far, but at the same time, the crown crisis affects very widely and also affects other sectors very negatively, says Stefan Westerberg.
The Stockholm Chamber of Commerce welcomes the efforts made so far by the government to counter the adverse effects of the pandemic on businesses and jobs, but believes that these efforts are, however, too small.
– The bankruptcies speak their clear language, there have been no strong enough efforts. We believe it would need to have a cost framework of around SEK 400 billion specifically dedicated to supporting businesses and jobs. Over time, it will be money well spent that can secure jobs, growth and, by extension, all of society’s prosperity after the immediate crisis, says Stefan Westerberg.
Detailed bankruptcy figures in the hotel and restaurant industry in various counties are attached in PDF format.
