Austrian corporate bankruptcies surge in Jan.-Sept.

VIENNA, Sept. 24 (Xinhua) -- The number of company bankruptcies in Austria surged by 24.6 percent in the first three quarters of 2024 compared to the same period last year amid continued economic woes, Austrian creditor protection association KSV1870 said Tuesday.

According to the association, 4,895 companies in the central European country are estimated to go bankrupt from January to September, totaling an average of around 18 bankruptcies per day. The total debts of bankrupt companies are expected to amount to 14.8 billion euros (16.5 billion U.S. dollars), up 683 percent year on year.