Looking at the individual sectors, the association registered a sharp increase in company bankruptcies, particularly in the IT, hospitality, transport and logistics sectors.
Keystone/gaetan Bally
Around 10,000 companies were dissolved in Switzerland last year. Bankruptcies due to over-indebtedness in particular have increased.
The number of insolvencies due to over-indebtedness rose by 8% compared to the previous year for a total of 7,335 companies, as reported by the Swiss creditors’ association Creditreform on Thursday. This is a record high number of insolvencies, i.e. bankruptcies caused by over-indebtedness.
The fact that the total number of bankruptcies is not higher is due to the decline in bankruptcy publications in accordance with Article 731b of the Swiss Code of Obligations, it added. These have fallen by almost 20% compared to the previous year.
According to the small and medium-sized enterprises (SME) portal of the State Secretariat for Economic Affairs (Seco), such bankruptcies due to organisational deficiencies usually only occur when a company has already ceased its activities. It is not a bankruptcy in the usual sense, which is caused by a problem of over-indebtedness.
Looking at the individual sectors, the association registered a sharp increase in company bankruptcies, particularly in the IT, hospitality, transport and logistics sectors. However, there was a year-on-year decline in the information and communication, wholesale and retail and building construction and civil engineering sectors.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Popular Stories
More
Climate change
Switzerland turns train tracks into solar power plants
In Switzerland more people are being referred to electrical therapies or psychedelic-assisted psychotherapy. Are there similar approaches where you live?
Living longer: What do you think about the longevity trend?
The longevity market is booming thanks in part to advances in the science of ageing. What do you think of the idea of significantly extending human lifespan?
Swiss foreign minister rejects mandatory referendum for EU deals
This content was published on
Swiss Foreign Minister Ignazio Cassis defended the government’s decision to make EU deals subject to an optional rather than a mandatory referendum.
Pro-choice and anti-abortion activists face off in Geneva
This content was published on
Anti-abortion Christian groups held a silent prayer in front of the Geneva train station on Saturday, to the whistles and shouts of pro-choice demonstrators.
Swiss army soldier seriously injured in accident on Simplon Pass
This content was published on
A member of the Swiss army was seriously injured on Friday while manoeuvring a self-propelled howitzer on the Simplon Pass.
Basel attempts world‘s largest over-60s disco before Eurovision Song Contest
This content was published on
It was billed as a world record attempt for the biggest over-60s disco of all time. But most visitors came to Basel to have fun.
Basel prepares 700 volunteers for the Eurovision Song Contest
This content was published on
Around 320 people took part in one of the two official information events for the Eurovision Song Contest (ESC) in Basel on Friday.
More Swiss soldiers involved in accidents during training in Austria
This content was published on
The Swiss army has reported various accidents involving Swiss soldiers during the exercise “TRIAS 25” in Austria. Some have led to hospitalisations.
Swiss court rules vegan meat substitutes can’t use animal names
This content was published on
Vegan meat substitutes may not bear animal names such as “planted.chicken” according to a ruling by the Swiss Federal Supreme Court.
Swiss cantons spared duty to create new traveller transit sites
This content was published on
Swiss cantons will no longer be formally obliged by the government to create new transit sites for the travelling community.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.