Vienna in the bankruptcy hospital: daily bankruptcies raise the alarm!

Vienna in the bankruptcy hospital: daily bankruptcies raise the alarm!

The economic situation in Vienna is anything but rosy! The latest figures from the 1870 credit protection association show an alarming increase in corporate insolvencies: in 2024, 2,467 companies in the federal capital have already been affected by bankruptcy, which corresponds to an increase in an incredible 27.6 percent compared to the previous year. Every day, an average of seven companies give up what concerns the concern in the Vienna Economy, such as

The analysis shows that almost 39 percent of the companies concerned could not initiate insolvency proceedings, since they were already wealthy at the time of the application. This number increased by almost 30 percent compared to the previous year, which brings creditors into an even more difficult location. The liabilities in Vienna are now around 4.8 billion euros, which is mainly driven by the large bankruptcies of companies such as Signa Prime Beteiligung GmbH with 830 million euros and other real estate developers. The economic framework also contributes to the misery: high energy prices, inflation and geopolitical uncertainties are increasing the companies, as Jürgen Gebauer, Head of Corporate Insolvency Vienna, explains.

In addition, a current extrapolation will show an increase in corporate insolvencies by 13 percent by December 12 - this corresponds to 1,930 affected companies in Vienna until the end of the year. During this time, the overall passives increased to around 8.53 billion euros, which represents a concern of doubling compared to the previous year. Calculated for the entire year, another worrying scenario is expected: Experts predict that the bankruptcies will not be deceptive next year, with more than 2,000 expected bankruptcies in Vienna. This alarming information reveals the serious challenges that the construction industry in particular have to manage, while the Viennese economy is still considered stable despite these crises, such as meinbezirk.at supplemented.