A wave of bankruptcy is expected in the second half of the year in Austria

By: Trademagazin editor Date: 2021. 01. 11. 11:08

The number of corporate bankruptcies fell in Austria last year due to state aid to deal with the consequences of the crisis, but this year the AKV (Alpenländische Kreditorenverband), the professional representative organization of lending financial institutions expects a bankruptcy wave in the second half of this year.

The number of corporate bankruptcies fell 41.4 percent last year to 1,784, and the number of private bankruptcies fell 23.6 percent to 7,256. Liabilities from corporate bankruptcies increased to 5.2 billion euros from 2.2 billion euros of a year earlier, while liabilities from private bankruptcies fell to 1.02 billion euros from 1.2 billion euros in 2019. (MTI)