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Bankruptcies reach new record high

The number of bankruptcies reached an all-time high in Switzerland during the first half of 2010 according to figures published by Creditreform, the Swiss association of creditors.

This content was published on July 2, 2010 - 12:56

The number of companies filing for bankruptcy increased by more than a quarter over the same period the previous year, with 3,137 firms going under.

Fewer individuals were declared bankrupt during the first semester, decreasing slightly to 2,796.

Northwestern Switzerland, including Basel, was worst affected, with a third more bankruptcies than in the first six months of 2009. Central and eastern Switzerland were also particularly affected.

However, it is not all gloom and doom for Swiss businesses: 18,757 new companies registered during the first six months of the year, up 9.2 per cent.

swissinfo.ch and agencies

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