Bankruptcy wave in Eastern Europe during 2009

BusinessEconomy ♦ Published: August 20, 2010; 21:14 ♦ (Vindobona)

In 2009 Eastern Europe registered 44 380 company failures, which accounts for over 44 percent more bankruptcy cases than in 2008. In Western Europe, the increase was 18.6 percent, Austria performed well with 9.3 percent.

Bankruptcy wave in Eastern Europe during 2009 / Picture: ©

With an increase of "only" 9.3 percent for business failures Austria has done well by European standards:

In Western Europe, the number of insolvencies increased by 19 percent, with highest increases in Spain with 97.2 percent. Only France and Greece performed better than Austria.

The data is drawn from the statistics of international insolvency Credit Protection…