In Salzburg

Company insolvencies increased by 11 percent this year

The retail sector ranks first in terms of company bankruptcies - together with vehicle repair companies.(Bild: TANJA UNGERBÖCK / APA / picturedesk.com)

The bankruptcy vulture struck this year, especially in Salzburg's trade and car repair businesses. Compared to the other federal states, Salzburg is not doing badly with an increase of 11 percent in company bankruptcies.

There has been an increase in company bankruptcies. In the first three quarters of this year, 150 insolvency proceedings were opened in Salzburg. This is 11.11 percent more than in the same period last year. Only in Lower Austria was the increase lower at 10.85 percent.

According to the Alpine Creditors' Association, most company bankruptcies in Salzburg were in the retail and vehicle repair sectors. The construction industry and the accommodation and catering sector followed in second and third place. Nearly a third of the insolvencies that were resolved ended with the acceptance of a restructuring proposal. In 18 cases (16.98 percent), no dividend was paid to creditors at all.

In the case of major insolvencies, hundreds of jobs were at risk. For example, four proceedings were opened in Salzburg, in each of which more than 100 jobs were at risk. The four companies in question were Windhager Zentralheizung Technik GmbH, Esprit Handelsgesellschaft, Windhager Zentralheizung GmbH and Weiss GmbH.