In 2025, Switzerland was hit hard by a wave of bankruptcies, with corporate and personal bankruptcies reaching new record highs. Creditreform reported 14,958 corporate bankruptcies, an increase of over 30 percent. Personal bankruptcies also rose, while new procedures led many cases more quickly into formal proceedings. The wave of bankruptcies had a clear driver: a reform changing the procedures of public creditors resulted in significantly more cases ending up in bankruptcy proceedings. (blick: 31.12.25)
Wave of Bankruptcies After Reform: Public Creditors Draw Consequences
A change in the law provides the central impetus and also compels public authorities to adopt a clearer approach. Since the beginning of 2025, public authorities and public-law entities have been directly initiating bankruptcy proceedings against defaulting companies. This puts these lenders in a similar position to private creditors, and the number of corporate bankruptcies is already increasing due to the stricter procedures.
Previously, authorities often pursued a different course of action, which meant some cases remained in the system longer. According to Creditreform, “enforcement by attachment” often only resulted in companies already on the verge of bankruptcy continuing operations. Now, the reform moves such cases into insolvency proceedings more quickly, leaving less room in the market for structurally over-indebted businesses.
Company bankruptcies in detail: Insolvency proceedings dominate the picture
Creditreform puts the increase into perspective, while the statistics reflect the new reality. Four out of five company bankruptcies result from insolvency proceedings, and about one-fifth are due to dissolutions caused by organizational deficiencies. Thus, the number of company insolvencies is rising not only due to economic conditions but also because of more consistent formalization in bankruptcy proceedings.
The sheer number of additional cases remains striking, although Creditreform attributes this to a reform-driven effect. Around 3,500 additional company bankruptcies are pending, and the vast majority are likely a direct result of the legislative change. Several cantons are still lagging behind, so a follow-up is possible and the wave of bankruptcies continues to spread regionally.
Personal Bankruptcy Rises: Inheritances Drive Up the Rate
Parallel to the wave of corporate bankruptcies, personal bankruptcies are rising significantly because many rejected inheritances are now leading to insolvency proceedings. Creditreform puts the number of personal bankruptcies at over 9,800, which is almost 12 percent higher than last year. Often, the situation arises when heirs refuse to assume liabilities, and creditors then seek to collect the debts in an orderly manner.
Furthermore, the decline in bankruptcies of living individuals has come to an end. Nevertheless, Creditreform also attributes this turnaround to the lingering effects of the COVID-19 pandemic. At that time, government aid stabilized some households; today, liquidity gaps are becoming apparent more quickly. In practice, this often leads to consumer insolvency, while the overall surge in bankruptcies remains a signal for stricter enforcement and lower tolerance for payment difficulties.