The Swiss Times - Swiss News in English

More Swiss companies file for bankruptcy in 2023

  • By The Swiss Times
  • 26 July 2023
Companies in the retail, catering, hotel and construction industries are struggling in Switzerland a new report reveals. The number of company bankruptcies is up by 22%.
More Swiss companies file for bankruptcy in 2023
The Swiss hotel industry has been hit hard recently, according to business experts.

In the first half of 2023, the number of company bankruptcies rose by 22% to 2,822 compared to the same period last year. The increase was strongest in central Swiss Plateau region of Switzerland (+36%), the business information service Dun & Bradstreet announced on Wednesday.

In the meantime, insolvencies rose by 29% in southwestern Switzerland, by 16% in central Switzerland and by 18% in northwestern Switzerland. In eastern Switzerland, the increase was the smallest at 11%. In the economically largest canton of Zurich, there were 17% more company bankruptcies.

In terms of sectors, most companies in construction, corporate service providers, retail and the catering and hotel industry closed.

The number of start-ups decreased by 4% compared to the previous year. Entrepreneurs registered a total of 24,387 new companies in the Swiss commercial register in the first half of 2023. Only in northwestern Switzerland region were there more start-ups.

This article was reprinted with permission from Keystone SDA.

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