Bankruptcy rate stays above 10,000
Some 10,700 bankruptcy proceedings were initiated in Switzerland in 2007, while 10,500 bankruptcies were concluded.
This is the fourth year in a row that the 10,000 mark has been breached.
The losses issuing from bankruptcies rose by 11 per cent to SFr3.4 billion ($3.2 billion), according to the Federal Statistics Office. However this sum is well below the record amount of SFr4.7 billion recorded in 2004.
In 2007 almost 2.5 million default summonses were issued, equivalent to 6,700 per day. This represents a 3.4 per cent decrease on 2006.
The cantons of Zurich, Vaud, Geneva and Bern had the greatest number of bankruptcies and summonses.
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