Furniture store Interio is bankrupt. 78 employees are affected. There are seven branches in Austria.
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The number of bankruptcies will have risen sharply in 2023
The number of bankruptcies has increased significantly in 2023, both compared to 2022 and 2019. The market shock in Austria has “come at full speed” after years of zero interest rates and the corona pandemic, creditors association AKV explains in a press release about the Insolvency Statistics for 2023.
6,000 bankruptcies are expected during the year
The record high debt is due to the billion-dollar bankruptcies in the Signa empire. The Alpine Creditors Association (AKV) speaks of an “unprecedented explosive increase in total debts” as a result of the bankruptcies at the Signa Group. The number of jobs threatened by the bankruptcies has also skyrocketed by more than 50 percent to more than 18,400. The AKV assumes that the number of bankruptcies will increase further this year. The creditors’ association expects 6,000 bankruptcies in the course of 2024.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
