The KSV1870 celebrates the 150th year of its existence. The anniversary year is a special challenge given the Corona crisis.
The 150th could also be the most challenging year for KSV. Because the number of bankruptcies will surely increase massively this year as a result of the Corona crisis. Experts predict that a wave of bankruptcies will begin to roll in at the end of the second quarter (June 30), which could affect thousands of companies. Credit protection agencies will have their hands full in 2020 to protect creditors’ interests as best they can.
Exactly on April 10, 2020, it was a century and a half ago that around 40 textile merchants came together in solidarity and at the suggestion of the Viennese lawyer Dr. Johann Exle came to the founding of the “Creditor Association for the Protection of Claims in Bankruptcies”.
Three name changes and 150 years later, the KSV1870 still stands by its proven motto and principle “Solidarity with the economy”. “As we all currently experience, it is more important than ever to stand together – within the economy, but also in exchange with politicians and interest groups,” emphasizes Ricardo-José Vybiral, CEO of KSV1870 Holding AG.
From 1870 to 2020
With strategic investments, constantly new business developments and future-oriented projects, such as the newly designed conference area “Area1870” in the head office in Vienna, the credit protection association from 1870 experienced a constant further development. “We will not keep our KSV feet still in the future either. We are at the starting line of an exciting future race, in which above all the brave, the innovative and the active will prevail, “explains Vybiral,” One thing goes without saying for the KSV1870: We continue to sprint in solidarity at the side of the domestic economy. “
The KSV1870 currently has over 26,000 members and has been offering free membership for young companies since 2002. For the company anniversary, the KSV1870 has set up its own website at 150jahre.ksv.at, on which the company’s history is presented in the form of a graphic novel.
For many years, the KSV1870 has been a partner of trend for years when creating the trend Top 500, the most traditional company ranking in Austria, which lists the 500 largest companies in the country. In the digital area, the trend also cooperates with the KSV1870 as part of a credit rating channel.
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