6% decline in insolvency applications for Austrian companies during the first quarter
VIENNA, March 18, 2018 (WAM) – The number of corporate bankruptcies in Austria has decreased since the beginning of this year after the number of insolvency applications declined to 1,687 applications in the first quarter, a decrease of 6% compared to the same period last year.
The Organization for the Protection of Loans and Creditors in Austria ruled out an increase in corporate bankruptcies during the current year, compared to last year 2025, but it expected the level to remain high in general.
Expert Karl Gotsa, an official at the Creditor Protection Authority, ruled out an increase in the number of corporate bankruptcies, and said: “We do not expect any fundamental changes in the number of corporate bankruptcies during the current year.”
Updated data showed that the retail and construction sectors recorded the largest number of bankruptcies, followed by the restaurant and hospitality sectors. Experts attributed this to several factors, most notably high operating costs, the weakness of the economy in general, and structural problems related to declining profit margins and intensifying competition, which leads to facing recurring financial difficulties that make it more vulnerable to bankruptcy.
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