Wed, Feb 21st 2024
Swiss and European companies, with a detailed report from Alvarez & Marsal revealing a sharp rise in companies requiring urgent restructuring and the sectors most affected.
Not only is Swiss commerce struggling at the moment, but most of Europe is also in a downturn.
Last year, 6.9% of Swiss companies faced financial difficulties that made a turnaround necessary; that number is slightly down this year.
Meanwhile, almost one in ten companies across all European countries is in financial distress. This means the so-called “distress level” has risen to its highest level since the coronavirus pandemic, as the consulting firm Alvarez & Marsal (A&M) writes in its report.
“European companies are under pressure from all sides, as demand is falling and financing costs are rising,” the report states.
Swiss companies are more resilient compared to other European countries. However, this country’s financial restructuring activity has increased since the end of 2023. As we mentioned yesterday Oerlikon, Swiss industrial giants are currently in that process.
Financial difficulties in the commodities, media, retail, and healthcare sectors continue to grow. The study, from A&M examined the financial situation of 4700 companies in 33 European countries.
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