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Austria: Alpine Bankruptcy Caused Further Enterprises to Go Bust
Politics ♦
Published: October 16, 2013; 16:35 ♦ (Vindobona)
Alpine’s bankruptcy has caused thirteen enterprises to slip into insolvency so far. Half of the companies are currently fighting for continuation, according to credit protection agency KSV 1870.
Austria: Alpine Bankruptcy Caused Further Enterprises to Go Bust / Picture: © Alpine Logo Press Photo
The enterprises affected employ 313 persons and their liabilities amount to € 14.6m. According to KSV 1870 (Kreditschutzverband von 1870), six companies intend to cut debts by strict austerity measures. Experts at the credit protection association point out that a chain reaction of the Second Republic’s biggest bankruptcy stayed away. Initially, KSV has identified “at least 80…
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