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Private Insolvencies on the Rise

Business › Economy ♦ Published: October 13, 2011; 16:57 ♦ (Vindobona)

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The number of private insolvencies rose by 6%, while the number of companies filing for bankruptcy declined by the same rate from January to September.

Private Insolvencies on the Rise / Picture: © Vindobona.org

According to latest data from Creditreform, the first nine months of the year brought a drop in the number of company insolvencies together with a rise in private insolvencies. 4,545 companies had to file for bankruptcy in the period from January to September 2011. This corresponds to a decline of more than 6%. The number of private insolvencies was up almost 6% to more than…