Gerhard Weinhofer, head of the creditor protection association Creditreform, expects Austria to still have to prepare for a few bankruptcies, including large ones. This can also be seen in the wake of the KTM bankruptcy. “We are only at the beginning of development,” he tells the Austria Press Agency. This applies not only to Austria, but across Europe, because the economy in general and industry in particular are at the beginning of a fundamental transformation. The fact that Europe’s largest motorcycle manufacturer KTM has slipped into bankruptcy is currently outshining much. Even outside of KTM, the bad news hasn’t stopped in the past few days and weeks. The magnitude of the cuts varies: entire factories are closed, jobs are lost there, wage discounts are being negotiated elsewhere.
