Published15. August 2024, 10:43
33 percent moreCompany bankruptcies are on the rise – three cantons are particularly affected
Since the beginning of the year, more than 3,400 companies in Switzerland have closed their doors. The number of bankruptcies remains higher than last year.
Vaughan
The number of corporate bankruptcy cases in Switzerland is increasing continuously. Since the beginning of the year, 3,407 companies have had to close down.
Many people are applying for bankruptcy, especially in the cantons of Zug, Lucerne and Schwyz.
On the other hand, the number of start-ups is increasing only slightly compared to last year.
The Swiss corporate landscape remains a problematic one: more bankruptcies and not enough start-ups. Analysis by business information service Dun & Bradstreet shows that 3,407 companies went bankrupt in Switzerland in the first seven months of this year.
As the credit agency wrote in a press release, the number of bankruptcies in July was up a whopping 33 percent compared to the same month last year. According to Dun & Bradstreet, from January to July it was up 14 percent — “which is still a very high value.”
Central Swiss companies in particular are going bankrupt
Striking: Central Switzerland in particular suffers from a massive increase of 28 percent in company bankruptcies. The cantons of Zug, Lucerne and Schwyz are particularly affected.
In southwestern Switzerland, Zurich, Ticino and eastern Switzerland, the increase in corporate bankruptcies is also in the double-digit range. Only in the Espace Mittelland did the number remain roughly stable with an increase of one percent.
Poor statistics for start-ups
The high number of bankruptcies is offset by weak start-up numbers. The number of new businesses grew by only three percent compared to the same period last year.
A total of 31,654 new companies were entered into the commercial register. Dun & Bradstreet comments: “Swiss entrepreneurs appear to be cautious at the moment.”
Are you following 20 Minute Business on WhatsApp?
Here you get the latest news from the business world and the latest updates on consumer topics straight to your cell phone.