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Bankruptcies fall again

The number of bankruptcies in Switzerland is continuing to fall, reflecting the underlying strength of the economy.

Bankruptcies were down 12.9 per cent in January and February compared to the same period last year. The decline was more marked among private companies (18.8 per cent) than individuals (7.8 per cent).

The latest figures released on Wednesday by the Creditreform organisation of St Gallen, which defends the interests of creditors, also showed the number of start-up companies reaching record levels.

In total, 4,131 new companies set up business, an increase of 9.2 per cent. Net growth, taking into account the number of firms going out of business, was 3.3 per cent.

The decline in the number of bankruptcies was similar in both eastern Switzerland and the French-speaking part of the country.

swissinfo with agencies


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