Saturday, November 26, 2022

Bankruptcy wave rolls through Switzerland

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Zug and Lucerne badly affected

The number of company bankruptcies remains high

In the first ten months of 2022, significantly more companies went bankrupt than in the previous year. For the year as a whole, the number of company bankruptcies could climb to a new high.

In Switzerland, the number of company bankruptcies remains at a high level. Compared to the previous year, bankruptcies increased by 35 percent in the first ten months of the year. (Iconic image)

The number of company bankruptcies rose by 35 percent from January to the end of October compared to the same period last year. A total of around 5,500 companies went bankrupt, which corresponds to an increase of 1,400, as the collection agency Creditreform announced on Monday.

If you look at the pre-crisis figures from 2018 to 2019, 8 percent more companies went bankrupt. During the Corona crisis itself, the number of bankruptcies had fallen significantly, also due to comprehensive aid measures.

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