The economy Number of insolvencies in Germany rises by double digits again
The wave of bankruptcies in Germany is taking more companies with it. In August, significantly more owners had to file for insolvency than a year earlier.
11.09.2024, 08:32
SDA
In Germany, significantly more companies filed for insolvency in August than in the previous year. According to preliminary figures, 10.7 percent more proceedings were filed with the courts than in the same month last year, as reported by the Federal Statistical Office. So far this year, only in June has there been an increase of less than ten percent.
It is still unclear whether all registered insolvencies actually result in proceedings that are then included in the official statistics. According to these final results, there were 10,702 corporate insolvencies filed in the first half of the year including June. This was 24.9 percent more than in the first half of 2023.
Creditors are worried about 32.4 billion euros, compared to 13.9 billion euros a year earlier. Proceedings have therefore become larger on average. Companies from the transport and warehousing sector are most frequently affected.
Temporary employment agencies and construction companies also frequently report their insolvency. There was also an increase of 6.7 percent in consumer insolvencies in the first half of the year, with 35,371 cases compared to the same period last year.
