Some 581 construction firms went bankrupt between January and the end of June, out of 2,822 companies in all sectors, according to research group Dunn & Bradstreet.
The financial and service sector industries saw one of the largest percentage rises in bankruptcies with a 31% increase in businesses going bust. Some 30% more hotels and restaurants also went out of business.
“Bankruptcies increased significantly in all major sectors,” said Dunn & Bradstreet on Wednesday, highlighting a large number of service industry failures.
Amid uncertain economic conditions and a rise in interest rates, which makes it more expensive to get bank loans, the rate of start-ups declined compared to last year.
New additions to the Swiss company register fell 4% in the first half of 2022, particularly among financial start-ups that saw 27% fewer new firms than in the first six months of 2021.
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Bankruptcies rise as coronavirus bail-outs phase out
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The number of companies and individuals declaring bankruptcy rose 9.1% last year, which coincided with a gradual withdrawal of state-backed financial support during the Covid-19 pandemic.
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