AKV: Number of Opened Corporate Insolvencies in Austria Slightly Down, but Heavy Burden Remains
Vienna, July 8, 2026
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Summary
In the first half of 2026, 2,005 corporate insolvencies were opened in Austria – a decrease of 7.69 percent compared to the previous year. At the same time, the number of dismissals due to lack of assets rose significantly, and personal insolvencies increased again.
Vienna, July 8, 2026
The Alpenländische Kreditorenverband (AKV) has reported a slight decline in opened corporate insolvencies in Austria for the first half of 2026, but warns of a persistently strained situation.
Across Austria, 2,005 proceedings involving companies were opened in the first half of 2026, according to the Alpenländische Kreditorenverband (AKV). This puts the number of corporate insolvencies 7.69 percent below the previous year's figure. On average, 77 companies went bankrupt per week, with a monthly average of 334 proceedings – only marginally fewer than in the record years 2024 and 2025.
The creditor protectors see a "slight easing" but emphasize the decline from a high level and the increased number of "total insolvencies." Including dismissals due to lack of assets, total insolvencies stand at 3,659 cases, which is even 1.5 percent above the previous year's figure. "These companies are too bankrupt to go bankrupt," the experts say.
Dismissals Due to Lack of Assets Rise Significantly
Because while the number of opened proceedings is declining, dismissals due to lack of assets are exploding: 1,654 insolvency applications were rejected in the first half of the year – an increase of 15.42 percent compared to the previous year. The reason: these companies did not even have the required 4,000 euros in assets to initiate a formal insolvency proceeding in the first place. "Companies increasingly lack the resources to continue operations and finance a restructuring plan," the AKV analysis states.
The total liabilities of opened corporate insolvencies fell by 39.46 percent compared to the same period last year, to 4.64 billion euros. Following the collapse of numerous real estate groups such as the Signa Group in previous years – with record liabilities of up to 22.3 billion euros in 2024 – the situation regarding major bankruptcies has eased for the time being.
Despite Decline, Nearly 8,000 Jobs Affected
Despite the decline in total liabilities, corporate bankruptcies continue to threaten around 8,000 jobs in Austria. 7,951 employees were working in the affected companies at the time insolvency proceedings were opened – an increase of 5.09 percent compared to the previous year.
The largest insolvency by liabilities in the first half of 2026 was the Laura Privatstiftung, a foundation co-founded by Signa founder René Benko, with registered claims of 1.7 billion euros, of which only around 32 million euros have so far been recognized. The highest liabilities by sector were recorded by financial services with a total of 1.92 billion euros, followed by real estate and housing with 837.7 million euros.
Laura Privatstiftung Remains Largest Insolvency
Other major bankruptcies include Georg-Coch-Platz Immobilien GmbH with 320 million euros in liabilities, as well as LL-resources GmbH with 130.7 million euros, which is still fighting for a restructuring plan. Two of these cases would even rank among the top 10 corporate insolvencies by liabilities.
At the sector level, the construction industry was most frequently affected with 471 insolvencies, followed by trade with 460 and the hospitality industry with 368 proceedings. Only 20.95 percent of completed proceedings ended with a restructuring plan – compared to just under 26 percent the previous year. At the same time, the share of proceedings with a zero-quota, in which creditors come away empty-handed, rose from 27.49 to 33.02 percent.
Construction, Trade, and Hospitality Particularly Affected
More than half (57.11 percent) of corporate insolvencies were opened via creditor petitions – an indication that entrepreneurs are increasingly ignoring their legal obligation to file. For the full year 2026, the AKV expects more than 7,300 total insolvencies and around 4,000 opened corporate insolvencies due to the "weak economic development."
The regional distribution shows a mixed picture: With the exception of Vorarlberg (plus 51.11 percent) and Styria (plus 12.79 percent), the federal states recorded a decline from January to June 2026. In terms of corporate insolvencies, Tyrol recorded the steepest decline (minus 29.32 percent), while Vorarlberg experienced a dramatic increase of 51.11 percent.
Regional Differences: Vorarlberg Sees Drastic Increase
In Upper Austria, there were 430 corporate insolvency applications in the first half of the year – an increase of 6.7 percent. Ultimately, 223 proceedings were opened. Upper Austria thus ranks third in the federal state ranking by absolute numbers – as in the previous year – behind Vienna (1,412 opening applications, plus 3.37 percent) and Lower Austria (609, plus 8.75 percent).
The largest insolvency by liabilities in Upper Austria was that of Hellweg, headquartered in Linz, with liabilities of just under 24 million euros. The total liabilities registered in Upper Austrian corporate insolvencies amounted to approximately 210 million euros in the first half of 2026.
In parallel with corporate bankruptcies, the number of personal insolvencies is rising. In the first half of 2026, 4,718 personal insolvency proceedings were initiated – an increase of 4.8 percent and the first increase in years. Total liabilities exploded to 830.7 million euros, and average debt soared to 176,000 euros.
Personal Insolvencies Rise for the First Time in Years
"Less media-effective than René Benko's insolvency in March 2024, several personal insolvencies of former real estate managers were opened in the first half of 2026," the AKV writes. "The real estate groups that have become insolvent in recent years are now spilling over into the personal bankruptcy sector," the association further explains.
Former shareholders and managing directors of insolvent real estate companies alone filed for personal bankruptcy – with guarantees and liabilities of up to 100 million euros per person that had become enforceable. Among male debtors, average debt at 219,700 euros is more than twice as high as among women (101,000 euros).
Former Real Estate Managers Among Personal Bankruptcies
On a positive note: Around two-thirds (66.54 percent) of personal bankruptcies end with a completed payment plan – a sign that many affected individuals receive a second chance. For the full year, the AKV expects more than 9,000 opened personal insolvencies – which would mean the pre-Corona level of 2019 has been reached again.
In terms of personal insolvencies, numbers rose particularly in Upper Austria (plus 16.27 percent) and Lower Austria (plus 12.76 percent), while Carinthia (minus 5.45 percent) and Vienna (minus 2.09 percent) recorded declines. The strongest increase was in Vorarlberg, with a plus of 36.84 percent compared to the same period last year.
Outlook: No Short-Term Easing in Sight
"Die schwache Konjunkturentwicklung und die volatile weltpolitische Lage lassen keine kurzfristige Entspannung erwarten," warns the AKV. "Von Es dürfe nicht außer Acht gelassen werden, dass ein Vergleich zum bisherigen Rekordpleitenjahr 2025 gezogen wird," the AKV release states. For 2026, the association continues to expect an above-average high insolvency level overall.
Questions & Answers
How many corporate insolvencies were opened in Austria in the first half of 2026?
According to the Alpenländische Kreditorenverband (AKV), 2,005 proceedings involving companies were opened across Austria in the first half of 2026 – a decrease of 7.69 percent compared to the same period last year.
Which company recorded the highest liabilities in the first half of 2026?
The largest insolvency by liabilities was the Laura Privatstiftung with registered claims of 1.7 billion euros, of which only around 32 million euros have so far been recognized.
Why does the AKV warn of a worsening situation despite declining opening figures?
The AKV points to the sharp rise in dismissals due to lack of assets by 15.42 percent to 1,654 proceedings, a restructuring rate of only 20.95 percent, and rising personal insolvencies with an average debt of 176,000 euros.
Corporate Insolvencies Austria H1 2026: AKV Reports Slight | allfacts360
