Company Bankruptcies in Switzerland Have Significantly Increased
Published: Thursday, Aug 10th 2023, 09:40
Updated At: Friday, Oct 13th 2023, 14:12
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Since the beginning of the year, significantly more companies in Switzerland have filed for bankruptcy. This is likely due to the weakened economic situation in important export countries. According to the data from Dun & Bradstreet, the number of Swiss company insolvencies increased by 16% in the first seven months of the year compared to the previous period. In July alone, the number of insolvencies only increased by 1%. The highest increases were seen in the Espace Mittelland (+22%), Zurich and the North West (+18%), while the East and the Ticino saw the lowest increases (+9%). According to Creditreform, the number of insolvencies from January to July was 4232, an increase of almost 10%. These insolvencies were due to both classic debt and so-called "zombie companies" which had survived the coronavirus pandemic but had no sustainable business model. The weak economy in important export countries such as Germany and China also contributed to the increase in insolvencies of Swiss companies. In addition to the increase in insolvencies, the number of company deletions from the Swiss trade register increased by 7.2% in the first half of the year. However, the number of new companies also increased by almost 4% to around 30,800. Creditreform expects more than 50,000 new companies to be founded this year. Young companies are particularly at risk of insolvency in the first five years, so it is to be expected that there will be more company deletions in times of a start-up boom. This trend is likely to continue.nnnnnn
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