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.
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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.
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A total of 490 companies went bust, according to figures published by Creditreform, the Swiss association of creditors. Creditreform described it as a “bad start for the Swiss economy in 2010”. The northwest of the country was the worst hit, with the rate of bankruptcies among companies rising by 92.9 per cent. But at a…
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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.