Insolvency wave rolls over Styria: company bankruptcies rise rapidly!

In Styria, the economic situation has dramatically intensified, as the latest reports show. Despite an increase of 25 percent in company insolvencies, the state remains among the three regions with the fewest bankruptcies in Austria. From January to November 2024, Styria recorded a total of 486 company insolvencies, which means an increase of 24.3 percent compared to the previous year. This represents a record year for bankruptcies, whereby Fisker's bankruptcy stands out as the largest bankruptcy in the country. According to Franz Blantz from the Alpine Officer Association, it can be seen that the crisis not only affects the real estate industry, but increasingly also the trade and industrial sector, which is illustrated by the current developments in KTM and Kika-Leiner.

The dimension of obligations at KTM is particularly alarming, which according to estimates could be between two and three billion euros. This suggests that many suppliers are faced with millions of claims. According to Blantz, the tense situation could continue even in 2025, since the economic outlooks of various institutes were revised down. With regard to the private bankruptcies, the number is stable, but it is predicted that it could increase due to the increasing unemployment in the coming year, which makes the situation further complicit for many households, as reported in Styria.ORK.AT.

percentage comparison options for bankruptcies

In the middle of these financial uncertainties, there are useful tools that can help analyze the situation. With an online computer that is offered under computer.club, users can make various percentage comparisons to understand how serious the increase in bankruptcies actually is. This computer enables, for example, to determine how much percent the bankruptcies have increased in the current year compared to the previous year. Understanding these numbers can be of great importance in order to better assess the proportions of the crisis. While the numbers are alarming, such tools could help citizens to better monitor their own financial situation and make strategic decisions.