Rising bankruptcies in Salzburg: 336 companies are fighting for survival!

Rising bankruptcies in Salzburg: 336 companies are fighting for survival!

The situation in Salzburg is increasingly being tense because the number of corporate insolvencies has increased dramatically in the past quarter. This year, 336 companies registered bankruptcy, which corresponds to a worrying increase of 20.8 percent compared to the previous year, as Aliki Bellou from KSV1870 reports. This development is in the context of rising interest rates, high wages and exploding energy costs, which significantly burden the profitability of the companies. The debts of the insolvent companies extinguished from 119 million euros to shocking 351 million euros. Despite these challenges, however, there is the possibility that insolvent companies can take advantage of new opportunities and can successfully reorient themselves, Bellou continues.

increase in bankruptcies and industry changes

In this year's balance sheet are most of the affected companies in the areas of trade, construction and gastronomy. The increase in damage for creditors who have increased by 195 percent is particularly problematic. This development exceeds the Austrian average of 30.8 percent, which points out that the situation in Salzburg is more serious. While corporate insolvencies are increasing, there is a slight decline in private bankruptcies, with 379 cases, which corresponds to a decline of 0.8 percent compared to the previous year. Nevertheless, the average guilt per private bankruptcy remains with alarming 112,000 euros.

In Austria as a whole, the location also looks dark, with an increase in company insolvencies by 22 percent, which leads to a historical record of 6,550 bankruptcies. The forecasts indicate that this number may remain stable in the next year or even increase, which emphasizes the need that both companies and the government urgently need to develop new strategies to coping with this crisis. For example, KSV Managing Director Ricardo-Jose Vybiral warned of a gradual dein industrialization that could seriously endanger the future of the economy in Austria, especially with regard to the dependency on Germany.

For further details about the insolvency statistics in Salzburg and Austria, you can Orf Salzburg and Salzburg24 Visit