Insolven wave 2024: Record numbers for corporate slides in Austria!

Insolven wave 2024: Record numbers for corporate slides in Austria!

Österreich, Österreich - 2024 marks a dramatic year for the Austrian economy. According to the forecast of the KSV1870, alarming 6,550 corporate bankruptcies are pending, which means an average of 18 bankruptcies per day. Large companies and medium -sized companies that are burdened due to high energy costs, increased raw material prices and shortage of skilled workers are particularly affected. While many companies were financially stable after the corona pandemic, they now have massive problems to manage their running costs. The influence of these developments is serious: 30,200 jobs are lost, and the payment difficulties in many companies also result in financial problems with previously healthy companies, as KSV1870 manager Karl-Heinz Götze warns. This makes the economic situation in Austria appear to be worrying for the coming months, because the costs are expected to decrease, and export demand remains weak. For 2025, one expects a further escalation of the insolvency figures and possible 6,500 to 7,000 bankruptcies as a total of Today.at reported .

list of the large bankruptcies

The greatest bankruptcy of the year is Fisker GmbH, which is at the top with 3.79 billion euros in liabilities, followed by René Benko (2.43 billion euros) and his private foundation (2.28 billion euros). KTM AG, most recently insolvent, has a debt of 1.82 billion. It is particularly striking that the construction industry, the gastronomy and many companies from the service sector make up almost half of all bankruptcies this year. The KSV1870 called a dramatic increase in large insolvencies, which this time comprises 79 cases with over 10 million euros in debt, while this number was only 44 in the previous year. These trends underline the critical situation of many companies in Austria and fear that the current challenges cannot be overcome quickly, such as reported .