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Business Insolvencies Up Again

Published: January 15, 2013; 19:31 · (Vindobona)

Last year, Austria has recorded 6,266 business insolvencies. Unlike 2010 and 2011, the number of insolvencies has increased.

Business Insolvencies Up Again / Picture: © Flickr

According to Creditreform, the number of business insolvencies rose by 1.2% last year. This is the first increase since 2009. Moreover, the number of initiated procedures rose by 6.2% to 3,492. In total, 22,000 jobs were affected. The insolvency liabilities came at € 3.0bn. Most business insolvencies were recorded in the capital Vienna. On average, 1.7% of the firms became insolvent…

This article includes a total of 82 words.

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