Throughout Salzburg

More and more companies are slipping into bankruptcy

The difficult economic situation continues to make itself felt in the number of company bankruptcies throughout Austria. Salzburg is no exception - as a current projection by the KSV 1870 creditor protection association shows.  

The number of insolvencies in the province of Salzburg increased moderately overall in the last six months. While there were 153 cases in the first half of 2023, there were already 157 cases in the first half of 2024. The increase amounts to 2.3%. Between the first half of 2023 and 2022, there was a calculated increase of 12.6%. The increase between the first half of 2022 and 2021 was 150%. 

Of the 157 cases, 91 cases were actually opened. On the other hand, 66 cases were not opened and were therefore not processed in an orderly manner. There were 60 cases in the first half of 2023 and 52 cases in the first half of 2021. A situation that has been known for years and is unsatisfactory: in most cases, there are no assets to cover the costs and the advance payment required for the costs of the proceedings is not made.  

However, the number of private bankruptcies remained at roughly the same level. With 4,580 debt settlement proceedings opened, an increase of 0.7 percent was registered across Austria compared to the same period last year. Burgenland recorded the most significant decline with a drop of 12.6 percent, while the strongest increase was in Salzburg with 6.7 percent.