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Swiss bankruptcies fell by 7% in 2020 © Deaconsdocs | Dreamstime.com In addition to a fall in the number of bankruptcies, the sum lost from closed bankruptcies fell 27%, after adjusting for the CHF 6.5 billion lost from the collapse of the Erb empire, Switzerland’s second largest bankruptcy after Swissair. Rolf Erb, the last CEO of the group, was convicted of fraud and sentenced to prison. However, he died in 2017 before his sentence began, according to Blick. In 2020, 12,912 bankruptcies were filed in Switzerland, compared to 13,840 in 2019. The last time the number was as low as this was in 2014, when 11,842 filings were made. The total money lost by bankruptcies closed in 2020, after adjusting out the Erb bankruptcy, was CHF 1.7 billion, down from CHF 2.3 billion in 2019.

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