The economic steamroller is currently mercilessly crushing the construction and retail sectors. There are still many companies emerging that are barely able to make ends meet financially. What it looks like in Lower Austria and why, despite better current figures, people here fear much worse.
The Credit Protection Association of 1870 (KSV) has recorded a huge increase in the number of business bankruptcies. Brigitte Dostal, head of the insolvency department, does not see the figures (see graph below) as an outlier, on the contrary. “From the current perspective, the constant increase in bankruptcy filings will continue. “That would mean that Lower Austria will have to deal with 1,250 company bankruptcies this year,” says Dostal, who makes a gloomy prediction.
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.
