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Having your own company go bankrupt is not a happy moment. Especially if you have multiple bankruptcies at the same time. There are 2,022 people living in Switzerland who have experienced three or more bankruptcies in the last ten years. Business information agency Crif has examined this in more detail.
The majority of bankrupt artists have between three and ten bankruptcies. There are even more for 69 of the 2022 people. “If there is bankruptcy with ten or more (common) causes, you have to assume a high level of criminal energy and intent,” Serge Trefzger (47) tells Blick. He heads data management at Crif.
78 bankruptcies were caused by a single person. “You can’t be unlucky enough to be partially responsible for 78 bankruptcies,” says Trefzger.
Bankruptcy knights’ scam
Where there are so many bankruptcies, the pattern is often the same: People take over companies that are on the verge of bankruptcy and get paid in return. You still order goods from well-intentioned suppliers who do not check your creditworthiness in advance. Then they don’t pay the bills and let the bankruptcy process take its course. The new owner then sells the tools, machinery or other goods purchased in this way, such as furniture, building materials or computers. The supplier is often faced with an unpaid invoice.
The economy also speaks of the so-called bankruptcy knights. They cause billions of dollars in economic damage.
The legal structure of the affected companies also indicates that there are criminal intentions behind the bankruptcies. More than half of the companies are GmbHs and 38 percent are joint stock companies. In both cases, the bankrupt is not responsible for private assets.
Especially in the construction industry
The typical bankruptcy artist is male and lives in the canton of Zurich. A total of 267 bankruptcies were last registered in the canton of Zurich. The last place of residence of 231 people is unknown. A particularly large number of people live in the cantons of Vaud (219), Ticino (192) and Geneva (179).
93 percent of artists who go bankrupt in 2022 are men. But this is not surprising: after all, the proportion of women in management in 2021 was only 27.1 percent. Bankruptcy artists especially enjoy causing mischief in the construction industry, wholesale trade or the catering industry. Companies that have been in business for six to seven years are most affected.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
