Significantly more company bankruptcies at the end of May
Published: Tuesday, Jun 11th 2024, 08:40
Updated At: Wednesday, Jun 12th 2024, 01:59
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The number of company bankruptcies in Switzerland increased significantly in the first five months of the year compared to the same period last year. At the same time, however, more new companies were founded.
Insolvency proceedings were opened for almost 2,500 companies between January and May 2024, according to the business information service Dun & Bradstreet on Tuesday. This was an increase of 11 percent compared to the previous year. Almost half as many companies also had to file for bankruptcy due to organizational deficiencies under Article 731b of the Swiss Code of Obligations.
In total, there were just over 3,600 company bankruptcies in the first five months, an increase of 8 percent on the previous year.
The strongest growth in insolvencies was in Central Switzerland (+31%), followed by Southwestern Switzerland (+18%), Zurich (+14%) and Eastern Switzerland (+12%). By contrast, there was a 5% decline in the Espace Mittelland region.
Meanwhile, the number of new entries in the commercial register rose by 4% in the same period: 22,507 new companies were founded. Entrepreneurs in south-western Switzerland were the most active in setting up new companies, with an increase of 8 percent.
©Keystone/SDA
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