More companies going bust

Pixabay

More companies have gone bust this year compared to other years – but some of those may be due to the impact of the pandemic.

Figures from Creditreform show there were 35% more bankruptcies in the first nine months of the year compared to the same period last year. 

There were very few business failures during covid, due to the state aid being available. The report’s authors speculate many of those companies were in trouble before covid and had been kept alive artificially. 

The main sectors hit were IT, financial and insurance services and mechanical engineering. 

Creditreform says it expects the total number of insolvencies to reach a new high by the end of the year. 

More from Bitesize News

  • Swiss World Cup dreams destroyed

    Switzerland’s World Cup dreams are over after a 6-1 drubbing by Portugal last night – its worst result since 1963.

  • Police hunt for pumpkin throwers

    Police in canton Aargau are hunting for mysterious pumpkin throwers.

  • Hundreds cut off in Valley

    Hundreds of people in the Calanca Valley in southern Graubünden remain cut off from the world after a rockfall blocked the main road heading to three villages on Sunday evening.

  • Not enough butter

    We won’t make enough butter next year, so the Federal Agriculture Office is allowing 3,000 tonnes to be imported next month.

  • New forest in Geneva

    A new forest is being created in Geneva. 400 trees are being planted around the development of the educational centre at CERN,

  • Postman fined for hitting same person - twice

    A postman in Lausanne has been fined for hitting the same person twice in the same day with his electric tricycle last year.