Insolven wave 2024: Record numbers threaten the domestic economy!

Insolven wave 2024: Record numbers threaten the domestic economy!

Mattighofen, Österreich - In 2024, a dark picture for the corporate landscape is characterized in Austria. According to the KSV, 6,550 companies have passed this year, which means an alarming increase of 22 percent compared to the previous year. The insolvency of the motorcycle manufacturer KTM is particularly dramatic, which is the largest in the history of Upper Austria with liabilities of around two billion euros. This bankruptcy affects over 1,600 creditors and means that the number of employees concerned has increased to almost triple. The reasons for the bankruptcy wave are diverse: rising interest rates, falling sales and a noticeable stimulus, many companies are creating, as the reporting of ooe.orf.at Show.

worrying trends in business

In addition to the numerical records in the bankruptcies, the amount of the liabilities that are connected with it also increases. These increase by 31 percent to a historical maximum of 18.3 billion euros. The KSV warns of a possible de -industrialization in Austria because the payment morality in various industries, especially in trade, construction and gastronomy, assumes alarming proportions. In the coming year, a total of up to 7,000 bankruptcies will be forecast, as reported to oe24.at . The KSV managing director Ricardo-Jose Vybiral emphasizes that not only economic reasons are responsible for the bankruptcies, but could also play a role in serious management errors.

The Situation could continue to worsen, since according to KSV 51,000 creditors and 30,200 employees are affected by the company insolvencies. This also represents a record and shows the dimensions of this economic crisis. Another aspect is pessimism that is spreading in the company: Many companies are fighting for their existence, while the need for new impulses is becoming more and more urgent. Industry experts are calling for a reduction in bureaucracy to give companies the opportunity to concentrate on their core tasks again.