Significant increase in company bankruptcies
Published: Wednesday, Nov 6th 2024, 10:10
Updated At: Thursday, Nov 7th 2024, 00:59
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Company bankruptcies in Switzerland have skyrocketed in the first nine months of the current year. According to figures released by the business information service Dun & Bradstreet on Wednesday, 4475 corporate insolvencies were opened during this period. This was 16 percent more than in the same period last year.
The number of insolvencies rose particularly sharply in south-western Switzerland. There it rose by 26%, while Central Switzerland recorded an increase of 22%, Eastern Switzerland 19% and Zurich 17%. The lowest increase of 6% was recorded in the Espace Mittelland.
Looking at the developments in the various sectors, the sharp rise in company bankruptcies in the automotive industry (+47%), architectural firms (+40%) and companies in the entertainment and leisure industry (+33%) is striking. In contrast, insolvencies in the construction industry fell by 35% and in wholesale by 10%.
Slightly more start-ups
Not only were there more bankruptcies in the first nine months of the year, there were also 39,162 more companies founded or newly entered in the commercial register. However, the increase is limited at 2 percent.
The strongest increase in start-ups (38%) was in the construction industry, followed by the education sector, land transportation and logistics and the automotive industry, each with an increase of around a quarter. In contrast, start-ups in the wholesale trade (-29%), utilities (-11%) and architectural firms (-10%) clearly declined.
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