At the sad "top"

Tyrol stands out in particular when it comes to private bankruptcies

KSV expects "only" 0.7 percent more private individuals to file for insolvency in the first three quarters across Austria. The situation is different in Tyrol, where there was a significant increase. The situation regarding company bankruptcies is also not "rosy".

The consequences of two years of the coronavirus pandemic and two years of record inflation are clearly making themselves felt at Kreditschutzverband von 1870 (KSV). As an extrapolation shows, there were 4895 companies across Austria that went bankrupt in the first three quarters. An increase of 24.6 percent compared to the same period in 2023.

We assume that we are talking about an insolvency year that has not been seen for a long time.

Die Experten des KSV

Tyrol in eighth place for corporate insolvencies
A look at the federal states shows that Tyrol is in eighth place with an increase of 14% (268 bankruptcies). The sectors most affected by insolvencies are wholesale and retail, construction and accommodation and catering. "These three sectors are responsible for almost half of corporate insolvencies across Austria," say the KSV experts.

Alarming number of private bankruptcies
In terms of private insolvencies, the analysts expect 6694 cases nationwide at the end of September, which corresponds to an increase of "only" 0.7 percent. However, a look at the federal states is alarming for Tyrol: this is where the largest increase was recorded, with 515 cases or an increase of 4.9 percent. In comparison: Burgenland recorded a drop of 13.4 percent with 110 cases.

KSV expects an increase in both areas
KSV's outlook: In terms of corporate insolvencies, "we assume that we will have to speak of an insolvency year that has not been seen for a long time". A "worsening" is also expected in the private sector.