A record 12,409 businesses and people declared bankruptcy last year, with marked increases reported in December.
This content was published on
1 minute
swissinfo.ch and agencies
According to debt recovery firm Creditreform, the commercial registry recorded 6,661 bankruptcies of businesses in 2011, an increase of 6.5 per cent on the previous year.
Although business bankruptcy declaration rates were relatively stable throughout the course of the year, a 19.4 increase in declarations – 406 – was recorded in December alone.
A similar set of figures was reported for personal bankruptcy rates, which reported a 0.5 per cent increase to 5,748 declarations for the year but saw a 3.4 per cent increase in December.
2011 was also notable for a 5.2 per cent increase to 39,671 in the number of new business created. But inversely, a record number of companies – 28,278 – were struck off the register all together, an increase of 11 per cent over 2010.
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.
Read more
More
Debt court idea for bankrupt states gathers pace
This content was published on
A group of 28 Swiss parliamentarians are supporting a motion that calls on the cabinet to present a proposal for a “fair and independent” insolvency framework for states. The motion says such a mechanism would contribute to avoiding a future debt crisis and to ensuring the stability of the monetary and financial systems. “Moreover, the…
This content was published on
Renewed fears that Greece might default on its debts has sparked a fresh wave of euro weakening while the dollar continues to trade way below parity against the franc. A single euro cost just under SFr1.22 on May 27 and the dollar just SFr0.85. Swiss exporters are used to the safe haven franc gaining in…
This content was published on
Many shops have closed and people are worried about the future. Another big problem is illegal immigration. But somehow life goes on. (Text and images: Gaby Ochsenbein)
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.