by In 2021, the total number of bankruptcy proceedings opened against businesses and individuals rose by 9.1% compared with 2020, reported the Federal Statistical Office this week. Photo by Andrea Piacquadio on Pexels.comAt a cantonal level, Aargau recorded the greatest relative increase (+24.6%). The number of debt collection proceedings increased slightly, but remained within the average range of the past five years. The recent increase in bankruptcies is probably related to measures to support businesses during the pandemic. Businesses that would have otherwise failed in 2020 were kept afloat by the measures and failed in 2021 instead. The number of bankruptcies in 2021 was only 1.7% higher than in 2019 before the virus arrived. While 22 cantons recorded an increase in cases,
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In 2021, the total number of bankruptcy proceedings opened against businesses and individuals rose by 9.1% compared with 2020, reported the Federal Statistical Office this week.
At a cantonal level, Aargau recorded the greatest relative increase (+24.6%). The number of debt collection proceedings increased slightly, but remained within the average range of the past five years.
The recent increase in bankruptcies is probably related to measures to support businesses during the pandemic. Businesses that would have otherwise failed in 2020 were kept afloat by the measures and failed in 2021 instead. The number of bankruptcies in 2021 was only 1.7% higher than in 2019 before the virus arrived.
While 22 cantons recorded an increase in cases, Geneva, Jura and Appenzell Innerrhoden all reported fewer bankruptcies. In Aargau the number jumped by 24.6%. In Zurich the number rose by 12.5%.
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