Swiss Bankruptcies at Their Highest Level Since 1994
The number of corporate bankruptcies in Switzerland reached 7,496 cases in the first half of 2026, the highest level since 1994—a 54.7 percent increase compared with the same period last year. A recent analysis by Dun & Bradstreet shows that the increase affects nearly all cantons and industries simultaneously and is driven by both economic and legal factors.
In the first half of 2026, approximately 41 companies filed for bankruptcy each day in Switzerland—a total of 7,496 cases. This represents a 54.7 percent increase compared to the first half of 2025, when 4,845 insolvencies were recorded. This is according to a recent analysis by Dun & Bradstreet . If this trend continues, the total number of bankruptcies for 2026 could rise to around 15,000—up from 11,856 for the entire year of 2025.
More Bankruptcies Due to a Change in the Law
Part of the increase is due to a change in the law: Since the beginning of 2025, public creditors such as tax and social security authorities have been required to enforce outstanding claims more consistently through collection proceedings. «The increase in Switzerland is only partly due to economic factors,» says Dirk Radetzki, Senior Vice President, Global Transformation & Business Development at Dun & Bradstreet Germany. «This also affects comparability with previous years; some of the cases recorded today would never have ended up in bankruptcy proceedings under the old rules. From an economic perspective, high financing costs and weaker demand in parts of the construction, retail, and hospitality sectors are further driving the increase.»
Increase in 25 of 26 cantons
Insolvency figures rose in 25 of the 26 cantons. Only Schwyz recorded a decline, down 13.5 percent. Zurich accounted for the most insolvencies with 1,261 cases, followed by Geneva (788) and Vaud (717). The fewest cases were recorded in Uri (10), Appenzell Innerrhoden (11), and Glarus (15). In percentage terms, the sharpest increases in case numbers were seen in Thurgau (+194.6 percent), Appenzell Innerrhoden (+175 percent), Basel-Landschaft (+157.9 percent), and Jura (+132.4 percent). The broad geographic spread of the increase is closely linked to the legislative reform, which applies uniformly nationwide and affects cantons and industries alike.
Skilled Trades and Hospitality Have the Most Bankruptcies
At the industry level, the skilled trades reported the highest number of cases at 1,053, followed by the hospitality industry (770) and retail (626). An increase was observed in nearly all sectors. The only exception was the construction industry, which saw a decline of 12.5 percent. In percentage terms, the number of cases grew most sharply in the printing and publishing industry (+193.3 percent), the utilities sector (+158.8 percent), and the transportation sector (+125 percent).
Established Companies Hard Hit
Companies that have been in business for more than ten years are the hardest hit by insolvencies. With 2,814 cases and a share of 37.5 percent, they represent the largest segment, ahead of companies that have been in business for five to ten years (2,027 cases, 27 percent). Consequently, the longer a company has been in the market, the greater its risk of becoming insolvent in the current environment.
«The fact that nearly all cantons and industries in Switzerland are being affected simultaneously is unusual and reinforces the impression of a systemic rather than an industry-specific effect,» says Dirk Radetzki. «It is striking that the reform brings to light precisely those cases that have long been operating at their economic limits—often long-established businesses with little room to absorb further strain. The new bankruptcy law thus reveals a vulnerability that had long remained hidden.»
Source: www.dnb.com
