Insolven wave 2024: Companies are fighting for survival!

Insolven wave 2024: Companies are fighting for survival!

The concerns about the corporate landscape in Austria and Germany are facing a bitter climax! In 2024, a total of 6,545 companies had to file for bankruptcy in Austria, which corresponds to an alarming increase of 23 percent compared to the previous year, as the data from statistics Austria shows. The service industry, trade and construction were particularly hard hit, where the bankruptcies have increased particularly strongly. Tobias Thomas, General Director of Statistics Austria, explained the dramatic development as a consequence of the ongoing economic crisis and great uncertainties that slow down the start -ups. The total number of corporate registrations has also dropped by 5 percent to 61,779, and the fourth quarter of 2024 was particularly dark, with 1,713 bankruptcies, which corresponds to an increase of 21 percent compared to the same period in the previous year. This indicates that entrepreneurs are under enormous pressure, as listed in a report from 5min.at.

record values ​​threaten!

It doesn't look better in Germany. The Federal Statistical Office reports an increase in corporate insolvencies by 16.8 percent in 2024, with the highest bankruptcies for almost a decade. A dramatic increase was recorded in October 2024: 2,012 bankruptcy, which means an increase of 35.9 percent compared to the previous year! Experts fear that record values ​​could be achieved in 2025, possibly even exceed the 32,000 bankruptcies from the crisis year 2009. The numerous problems that are plagued by companies - expensive energy, high bureaucracy and political uncertainties - are an expression of a profound structural change in the German economy, according to Christoph Niering, chairman of the professional association of insolvency administrators and administrators of Germany, as reported.

The numbers are alarming and are considered a clear warning signal for the affected sectors. The increased creditor claim - around 3.8 billion euros - shows the dimension of the problems that many companies plague. The increasing bankruptcies are a clear indication that stabilization remains questionable in the near future, while economic uncertainty continues to increase.