Insolvency chaos in Carinthia: 2024 brings record numbers for company bankruptcies!

Insolvency chaos in Carinthia: 2024 brings record numbers for company bankruptcies!

Kärnten, Österreich - In 2024, Carinthia recorded a record high of company insolvencies, which unequivocally reveals the weaknesses of the regional economic system. According to the Gailtal Journal , the number of bankruptcies rose by 26.6 % compared to 2023, and a total of 376 insolves were registered. The increase in gastronomy, where the bankruptcy cases have doubled, as well as in the processing of businesses, which almost experienced a quadruple, was particularly clear. The Carinthian regional court reported 218 newly opened procedures, which is an alarming increase of 55.71 %. In this negative situation, the overall liabilities of companies increased dramatically - from around 121.9 million euros in 2023 to around 349.2 million euros 2024.

The effects of the economic crisis are noticeable for almost all industries. The solar and photovoltaic sector also did not fall unexpectedly: here the bankruptcies piled up from two to eight. In contrast, there was a slight decline from 692 procedures in 2023 to 662 in 2024, but worrying trends can still be seen how the increase in the lack of mass. This suggests a deterioration in the financial situation of many private individuals, with an average debt that increase from 95,600 euros to 99,200 euros. The My district reported that these developments stand in direct connection with the increasing cost of living and the weak demand, which for continuing uncertainty worry.

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