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According to the statement made by the Swiss creditors association Creditreform on Thursday, the number of bankruptcies increased by 8 percent compared to the previous year, reaching a total of 7 thousand 335 companies. This is a record high of bankruptcies, that is, bankruptcies caused by over-indebtedness.
It is stated that the reason why the total number of bankruptcies is not higher is due to the decrease in bankruptcy publications in accordance with Article 731b of the Code of Obligations. These are down almost 20 percent from the previous year.
According to the SME portal of the State Secretariat of Economic Affairs SECO, such bankruptcies due to organizational deficiencies usually occur only if a company has already ceased its operations. This is not a bankruptcy caused by over-indebtedness in the conventional sense.
Looking at individual sectors, the association noted a sharp increase in company insolvencies, particularly in the IT, hospitality, transport and logistics sectors. However, there was a decrease compared to the previous year in the fields of information and communication, wholesale and retail trade, and construction and civil engineering.
(SDA)
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.
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