Austria Businesses Heading for a Record Year of Bankruptcies in 2024

OrganizationsOther ♦ Published: July 15, 2024; 12:59 ♦ (Vindobona)

Austria is facing a possible record year for corporate insolvencies in 2024. The current economic situation shows a significant increase in insolvencies, especially in the first half of the year.

In the first six months of the year, 2,098 corporate insolvencies were opened, a 35.8% increase from the previous year and the highest figure for 15 years. / Picture: © Wikimedia Commons / Gugerell / CC0

The Alpenländische Kreditorenverband or Alpine Creditors' Association (AKV Europa) recently published alarming figures: 2,098 corporate insolvencies were opened in the first half of 2024. This represents an increase of 35.35% compared to the previous year and is the highest figure in 15 years. The AKV Europa is an organization,…