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Bankruptcies fall again

The number of bankruptcies in Switzerland declined again last year, with 8,665 companies and individuals facing proceedings against them. That is a fall of one per cent - or 90 cases - compared to 1999.

This content was published on May 18, 2001 - 10:57

The Federal Statistical Office said on Friday that bankruptcies last year involved losses of some SFr4 billion ($2.3 billion).

The number of bankruptcies reached their high point in Switzerland in 1996 when 10,541 cases were opened. Since then, they have declined steadily. Last year's figure is 17.8 per cent less than in 1996.

The office added that bankruptcy losses were highest in 1998, with a total of SFr4.4 billion lost.

The number of firms and individuals going bankrupt went down in 14 Swiss cantons last year, while in the remaining 12, the figure went up.

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