Bankruptcies at an all-time high

Never before have so many companies slipped into insolvency

209 corporate insolvency proceedings were opened in Salzburg in 2024. While company bankruptcies were at a record high, private cases declined.

Company bankruptcies reached historic highs in the year 2024, which has just come to an end. 209 insolvency proceedings were opened for companies in Salzburg alone, reports the Alpenländische Kreditorenverband (AKV). This is an increase of 20 percent compared to 2023 (173 cases). Of the proceedings opened, 23 involved an application for restructuring. Since the start of the coronavirus pandemic in 2020 (96 cases opened), the number of cases in Salzburg has more than doubled.

The biggest chunk by far in 2024 was the bankruptcy of heating system manufacturer Windhager. The company's four companies had liabilities totaling more than 175 million euros. 299 employees were affected by the Windhager bankruptcy.

In contrast, the trend in private insolvencies is declining. 374 Salzburg residents slipped into personal bankruptcy last year. This is a decrease of two percent compared to 2023 (382 cases). The total amount of private debt here: 34.95 million euros.