Around 10,000 bankruptcies in Switzerland again in 2023
Published: Thursday, Jan 4th 2024, 09:50
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In Switzerland, around 10,000 companies were dissolved again last year. Bankruptcies due to over-indebtedness were the main reason for the increase.
The number of insolvencies rose by 8 percent compared to the previous year to a total of 7335 companies, as reported by the Swiss creditors' association Creditreform on Thursday. This is a record-high number of insolvencies, i.e. bankruptcies caused by over-indebtedness.
The fact that the total number of bankruptcies is not even higher is due to the decline in bankruptcy publications in accordance with Article 731b of the Swiss Code of Obligations. These have fallen by almost 20 percent compared to the previous year.
According to the SME portal of the State Secretariat for Economic Affairs SECO, such bankruptcies due to organizational deficiencies usually only occur when a company has already ceased its activities. It is not a bankruptcy in the usual sense, which is caused by an over-indebtedness problem.
Looking at the individual sectors, the association registered a sharp increase in company bankruptcies, particularly in the IT, hospitality, transport and logistics sectors. However, there was a year-on-year decline in the areas of information and communication, wholesale and retail and building construction and civil engineering.
©Keystone/SDA
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