Jonathan, yes - they'd been spending big-time for years, buying up non-profitable airlines (Sabena, anyone?), and 9/11 probably "helped" too. The airline was grounded on October 2nd 2011 and officially declared bankrupt. This was sort of a collective trauma for the whole country, as Swissair was considered a "flying bank" and probably the most trusted company the country had. A lot of people owned stock and in turn practically lost their savings. A few days later, a new company was founded, which is still flying today, Swiss in short, or Swiss International Air Lines in full. All Swissair stock etc. was taken over by Crossair, their regional airline (once an independent company), and that became Swiss. The airline code they use today is still Crossair's old code, and Swissair's code is defunct. Swissair was liquidated and they did everything to get at least a bit of money, so whatever was there was sold off. They held big sales at their old headquarters. Just today they said at the radio that til Sunday there's a pop-up shop at the airport, still selling off things. Those serving trolleys go for a fortune!
Karin