Business Insolvencies Declining

BusinessEconomy ♦ Published: December 20, 2011; 16:42 ♦ (Vindobona)

In spite of the economic cool-down, private as well as business insolvencies were going down in 2011.

Business Insolvencies Declining / Picture: ©

According to the Austrian creditor´s association (KSV), Austria registered 3,255 insolvent companies in 2011, which is a decline by almost eight percent. Rejected applications for insolvencies decreased by 9%. Together, 5,856 companies were dissolved. The creditor´s association is optimistic that there is no credit crunch in 2012.

KSV estimates that about 100,000 to 150,000…