Shocking insolvency wave: Over 6,500 companies bankruptcy in Austria!

Shocking insolvency wave: Over 6,500 companies bankruptcy in Austria!

The bankruptcy wave in Austria strikes with full force! This year, 6,550 companies, including the aspiring photovoltaic company Cleen Energy, had to register bankruptcy. This corresponds to frightening 18 applications per day! As Today.at , the bankruptcies also have lost massive effects on the workforce: 51,000 creditors have lost their jobs over 30,200. Cleen Energy, based in Haag (Amstetten district, Lower Austria) and 30 employees, is now facing a renovation process without self -administration. After failed negotiations with its main believers, the board of directors notes that the necessary financing cannot be secured.

acute danger for emerging industries

Despite intensive attempts to restructure, the search for potential investors seemed unsuccessful. These called for “adjusted liability structures” that Cleen Energy could not provide. You are now planning to work out a renovation plan within 90 days, which must also be accepted by the creditors. According to trend.at , the situation for many companies is future-providing, since the creditors often remain unclear about their claims. As an independent legal protection provider, the D.A.S. Legal Protection AG that legal support for both affected companies and creditors is essential in order to remain the best possible action in this critical situation.