Saturday, December 3, 2022

Now a wave of bankruptcies is rolling towards Switzerland

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For Switzerland, after an unprecedented decline in 2020 as a result of government corona measures, the expected normalization has been underway since the end of 2021, according to a recent statement on Wednesday. Already in the fourth quarter there was an 11 percent increase in insolvencies, in the first quarter there was an increase of 37 percent in the development. A new record of bankruptcies was only just missed.

“We assume that the new headwind from the war in Ukraine and the renewed lockdowns in the largest and economically most important cities in China will lead to a certain acceleration in the number of insolvencies in the second half of the year,” predicts Jan Möllmann from Allianz Trade Switzerland . Specifically, the study predicts an increase in insolvencies of 20 percent to 6170 cases for the whole of 2022. In 2024, a new record could be reached with an estimated 6450 cases.

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