Is this 'normal'...
A wave of bankruptcies is being observed not only in Germany but also in neighboring Austria.
The Mareiner group of woodworking companies (famous for its eco-terraces and wall formwork) was hit hard by the Ukrainian crisis, which triggered a market collapse.
Runtastic, a subsidiary of Adidas specializing in fitness software, is closing all its offices in Austria, leaving 170 employees out in the cold.
Jugendland Betreuung GmbH, a company that supports children and youth, has declared insolvency due to a conflict with local authorities who restricted financial transfers.
Construction firm WRS Energie- und Baumanagement GmbH suffered from the "challenging market environment," with liabilities amounting to €21.14 million.
And the final note: in the first half of 2024, 3,298 companies went bankrupt in Austria — 26% more than in 2023, equivalent to 18 corporate bankruptcies per day.
Source: @geonrgru
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