The number of bankruptcies in Switzerland has fallen for the third year running to the lowest level since 1992.
The Creditreform organisation of St Gallen, which defends the interests of creditors, says 8,313 cases were recorded last year.
The number of companies going bankrupt went down by 8.4 per cent to 3,842 but the number of private individuals falling into financial difficulties rose by 4.1 per cent to 4,471.
Creditreform said on Wednesday that 31,872 new companies were founded last year, while 22,137 were struck off the company register.
The decline in bankruptcies was particularly marked in eastern Switzerland (-16.8 per cent), central Switzerland (-10.9 per cent) and Zurich (-6.1 per cent).
The position in the French-language part of Switzerland has remained stable, with a slight increase of 0.8 per cent in cases.
swissinfo with agencies