Slight Decline in Company Insolvencies

Politics ♦ Published: June 28, 2011; 15:22 ♦ (Vindobona)

Private insolvencies are on the rise, while the number of companies filing for bankruptcy is falling moderately.

Slight Decline in Company Insolvencies / Picture: ©

According to data of the Creditors’ Protection Association of 1870 (KSV), 1,672 Austrian enterprises had to file for bankruptcy in the first half of 2011. This corresponds to a 3% drop compared to the first six months of 2010. Approximately 10,300 employees were affected (minus 5.5%).

The KSV urged the government to ensure justice in the bankruptcy proceedings of limited…