Significantly more company bankruptcies in October
Published: Wednesday, Nov 29th 2023, 09:40
Updated At: Wednesday, Jul 3rd 2024, 08:10
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The number of corporate bankruptcies in Switzerland increased significantly in the first half of 2024 compared to the same period last year. Private bankruptcies are also on the rise.
A total of 5619 companies went bankrupt between January and June. This was 9.4 percent more than in the same period last year, as the creditors' association Creditreform announced on Wednesday. The main increase was in actual insolvencies (+11.2%), while bankruptcies due to organizational deficiencies rose by only 4.2%.
Nevertheless, the overall increase in June (+2.8%) weakened slightly. However, the experts at Creditreform do not see this as a trend reversal. According to the press release, the experience of recent years suggests that a further increase is more likely. Over 11,000 bankruptcies are therefore expected in 2024 as a whole, which would be a record.
More private individuals are also going bankrupt
There was also a marked increase in bankruptcies of living private individuals in the first half of the year. They increased by almost a third to 523. Creditreform suspects that this could be due to the increased cost of living. At the same time, however, the association emphasizes that the number is still manageable.
On the other hand, there were no major changes in the number of probate proceedings (bankruptcies decreed after the death of a person). They continue to account for the majority of the 4504 personal bankruptcies.
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