Bankruptcies sharply increased again in the first quarter of 2022; registrations decreased

Press release: 12.808-106/22

Vienna,2022-05-10 - According to preliminary data of Statistics Austria, 1 050 enterprises were insolventin the first quarter of 2022, 117% more than in the same period of the previous year. However, this increase can be explained largely by the fact that the obligation to file for bankruptcy has entered into force again in Austria. It has been suspended from March 2020 to the second half of the year 2021 due to the Corona crisis.

"After the obligation to file for insolvency in the event of over-indebtedness came into force again in the second half of the year and a large part of the Corona government aid for companies expired, a certain catch-up effect on insolvencies was already evident at the end of 2021," explains Statistics Austria Director General Tobias Thomas. "In the first quarter of 2022, insolvencies have now more than doubled compared to the previous year and are back to pre-Corona levels," Thomas continues.

In the first quarter of 2022, 15 393 registrations were recorded, approximately one third less than in the first quarter of 2021 with 24 038 registrations.

For more detailed information please refer to the German version.