Traditional companies on the brink These Swiss companies have closed down completely or partially

It seems as if a harsh wind has swept away many traditional Swiss companies. More and more companies are having to close down or put the brakes on savings.

The global economy is constantly being put to the test by war, pandemics, climate change and other factors. The Swiss economy, too, is constantly being shaken. As the SME portal of the State Secretariat for Economic Affairs (SECO) shows in an analysis, 3006 companies went bankrupt in the first six months of 2024.

The big quake came in 2023 with the demise of Credit Suisse. Other traditional Swiss companies were forced to close this year. There are various reasons for this. blue News shows you which eleven companies had to close their doors for good in 2024 - or have to make rigorous savings.

The O. Braunwalder slaughterhouse in Wohlen AG is closing down. This was announced at the beginning of the year. The company announced that the 63 employees affected will receive their wages until the end of January. O. Braunwalder AG cited the acute shortage of skilled workers, rising energy costs and increasing price pressure as the reasons for the closure.

In addition, the coronavirus pandemic continues to have a negative impact on the business, which ultimately means that it can no longer continue to operate profitably. "Under the current circumstances, it is no longer possible to operate profitably," said the company's statement.

The slaughterhouse has been part of the Heba Food Group based in Lenzburg AG since 2013. However, according to the press release, the continuation of the six butchery branches under the name of a sister company is to be considered.

The metal construction company Neuweiler AG in Kreuzlingen TG is on the verge of going out of business. This was reported by the Swiss media three months ago. The company, which specializes in large welded constructions made of steel, stainless steel and aluminium, has to file for bankruptcy. For the 46 employees, including four apprentices, this means the end of their employment. The main reason for the closure is the sharp rise in the cost of electricity and materials, which has brought the company to its knees economically.

Neuweiler AG can look back on a long company history dating back to 1833. But now the machines have finally come to a standstill, as the "St. Galler Tagblatt" reports. "It's a bad feeling that I wouldn't wish on anyone," says Christian Neuweiler, Chairman of the company's Board of Directors. "After all, this is not just any company, but a long-established business."

After more than 160 years in business, the last Swiss manufacturer of wrapping paper, carrier bags and gift ribbons, Stewo from Wolhusen, is facing a drastic step: around 60 employees are to be made redundant as production and logistics are to be discontinued. This was reported in the media three months ago.

The company was already forced to make its first job cuts in May last year. At the time, Daniel Schaffo, Head of Marketing and member of the Executive Board, assured the "Luzerner Zeitung" that the future of the company was not at risk despite the job cuts. However, the pressure on the company was already clearly noticeable at the time. "The rising costs of electricity, paper, ink, solvents and transportation were putting us under a lot of pressure," explained Schaffo.

In order to reduce energy costs, the company's machines had already been switched off for several weeks at times. Despite these measures and the dismissal of individual employees last year, the future of the company still seemed secure at the time.

Two months ago, blue News reported that the traditional fabric store Creasphere was closing its doors. Creasphere, once part of the famous Gessner silk weaving mill, was the last link to a long weaving tradition. Now the remaining seven branches are also facing closure. The stores throughout Switzerland will be closed by the fall.

This marks the end of almost 200 years of history, as reported by the Tages-Anzeiger newspaper. The roots of Gessner AG go back to the year 1841. The company gained worldwide recognition for its fabric production in Wädenswil ZH before becoming the last Swiss silk weaving mill to close its doors in 2016.

The Creasphere stores offered a wide range of sewing and knitting utensils as well as interior design advice. However, business with interior design advice has plummeted in recent years. "People have other priorities than optimizing their homes down to the last curtain," explained Managing Director Urs Schindler.

Two months ago, blue News writes: Weltbild Germany announced its closure last week. Now all Swiss branches are also closing, as reported by "Züri Today". The portal refers to a letter from Swiss Managing Director Anatol Fussi to employees. The traditional bookshop had to file for bankruptcy on Wednesday.

Fussi had to deliver "very difficult and sad news", he wrote. The effects of the bankruptcy in Germany have now also become "insurmountable" at the Swiss headquarters in Wangen near Olten. Every effort has been made to avert the end.

The closure is apparently immediate: all 24 branches in Switzerland are closing with immediate effect. The employees of the bookstore chain with a history stretching back almost 90 years have been made redundant with immediate effect and should contact the RAV. "Unfortunately, we will no longer be able to pay the August salary," writes Fussi.

It has been known for some time that things are not going well at the photovoltaic company Meyer Burger. New details about the company's slow demise have recently come to light.

In 2024, the Swiss solar company Meyer Burger only made headlines with negative news. Most recently, the company from Thun attracted attention at the end of August when it once again announced extensive restructuring measures.

The company announced that the planned construction of a solar cell production facility in Colorado Springs could not be financed at present, so the process was being halted. This is not the first U-turn by Meyer Burger, whose management had not so long ago presented cell production in Colorado as part of the rescue plan for the ailing company. Production should have started at the end of 2024, so now the abrupt stop.

Meyer Burger's bottom line for the 2023 financial year was a loss of 291.9 million Swiss francs. It is the tenth financial year in a row to end in the red. A capital increase in spring 2024 does not seem to have worked either, with the share price down 96.4 percent since the beginning of the year.

Kasag Swiss AG in Langnau, a long-established company specializing in the design and manufacture of systems for the food, chemical and pharmaceutical industries as well as for renewable energies, will cease operations at the end of 2025.

Despite intensive efforts, no alternative location could be found. "The search for a new location and the option of a new building with potential investors failed to produce a satisfactory result," the Board of Directors announced.

The company's approximately 65 employees must prepare for the end of operations. The Board of Directors cites the "geopolitical situation and its economic impact" as the main reasons for the closure. The continuation of the company and the necessary investments would represent too great a risk, according to the press release.

Kasag Swiss AG, whose origins date back to Kupferschmiede-Aluminum-Schweisswerk AG, founded in 1929, exports around 70 percent of its products and faces tough competition from foreign rivals.

Despite the challenges, Managing Director Thomas Gerber emphasized that the company is working at full capacity for 2024 and has already received several orders for 2025. "Even though the mood in markets such as Asia and the USA is currently cautious, the announcement of the closure came as a shock to our customers," said Gerber, who was informed of the closure shortly before the other employees.

This week, the media announced several crisis situations at traditional Swiss companies. One of them at Schaerer Medical.

blue News writes: Schaerer Medical AG, a long-established company based in Münsingen BE, had to undergo financial restructuring at the beginning of the year. Due to high costs and low margins, particularly in the export business, the company ran out of money, as reported by the "Berner Zeitung".

Schaerer Medical AG from Münsingen BE, a traditional company with over 100 years of history, had to initiate a financial restructuring at the beginning of the year. As reported by the "Berner Zeitung", the company ran into serious financial difficulties due to high costs and low margins, particularly in the export business.

In February of this year, Schaerer Medical laid off around half of its workforce and applied for a debt restructuring moratorium. This was finally approved by a court in October. The company now has six months to stabilize itself and find a way out of the crisis.

Schaerer Medical, known for the development of operating tables, is facing major challenges on the global market. In order to become profitable again, the company has already reduced its product range. The company is currently looking for a new owner who is prepared to make the necessary investments to secure the company's future.

The coming months will be decisive in determining whether Schaerer Medical AG can continue its operations.

The Emmenbrück-based steel manufacturer Swiss Steel is in a serious financial crisis. Main shareholder Martin Haefner had to inject 300 million Swiss francs in the spring to support the company. Since then, the situation has deteriorated dramatically, as the Sonntagszeitung newspaper reports.

The stock market value has fallen by more than 75 percent within six months and the capital from the increase has already been burned through. According to the Sonntagszeitung, a large number of people are working short-time.

The problems at Swiss Steel are closely linked to the crisis in the European automotive industry, particularly in Germany, where the company is experiencing heavy losses. The plants in Germany are operating well below capacity and demand for steel continues to fall.

Hoffmann Neopac AG is cutting 37 full-time jobs in Thun. The packaging company is relocating the jobs to the Netherlands, as announced on Tuesday.

The reasons for the relocation of a total of three can production lines are the loss of important customers in Switzerland and the unfavorable development of the euro exchange rate. These are having a negative impact on costs at the Gwatt site in Thun, the company said in a statement.

The 37 full-time positions are expected to be cut by the end of the year. A spokeswoman was unable to say exactly how many employees will be affected when asked by the Keystone-SDA news agency. A consultation process with the staff commission will run until November 13 to allow suggestions and ideas for mitigating the impact on staff to be submitted.

Migros already announced at the beginning of the year that it would close or sell its specialist stores. It is already noticeable in some shopping centers or shopping streets in Switzerland that a Migros subsidiary is missing here and there.

Everything that is not part of the core business is to be sold. In addition to the supermarket business, the core business also includes the areas of finance (Migros Bank) and health (Medbase).

Melectronics: It has been clear since mid-June that Media Markt will take over 20 locations of the electronics retailer Melectronics. However, the end is sealed for the company's remaining stores. These will be gradually closed by the end of November. The takeover marks a significant step in the Swiss electronics retail sector and will further strengthen Media Markt's market position.

SportX: Migros has announced that the Dosenbach-Ochsner Group is taking over 27 locations of the Migros specialist store SportX. 24 locations will continue to operate under the Ochsner Sport brand and 3 locations under the Dosenbach brand. All employees of the affected stores will be taken on. Apprentices at all SportX stores will be able to continue their training seamlessly at Ochsner Sport. Negotiations are currently underway with various other interested parties for the remaining 22 of Migros' 49 SportX stores. The takeover of the stores is subject to review by the Competition Commission.

Micasa, Bike World and Do it + Garden: In June, the furniture store Micasa, the bicycle retailer Bike World and the DIY chain Do it + Garden will also be put up for sale. It is not yet clear which company will buy these Migros specialist stores.

Hotelplan: Migros' travel business is also to be sold. The travel business is proving to be low-margin: Hotelplan generated a profit of just CHF 27 million on sales of CHF 1.7 billion in 2023. In addition, tour operators have to book services such as flights, accommodation and transportation in advance in order to secure availability and attractive prices. At Hotelplan, these advance payments amount to around CHF 200 million per year. The coronavirus crisis highlighted the risk of the travel business when Migros had to step in as the parent company. Hotelplan still owes Migros around CHF 100 million from this period.