According to the head of economic research, companies of all sizes are affected by the high prices for electricity and energy. Hundreds of thousands paid significantly late.
According to the credit agency Creditreform, rising energy costs are causing companies to pay their bills late or not at all. “The default risk for companies is currently increasing almost every week,” said the head of economic research at Creditreform, Patrik-Ludwig Hantzsch, of the “Neue Osnabrücker Zeitung”. Hatzsch does not anticipate a “wave of insolvencies” in the economy for the time being, but does anticipate a trend reversal in the insolvency situation, which has so far been declining.
According to the information, more than 2.1 million overdue invoices were paid nationwide, and around 280,000 companies paid significantly late. “It doesn’t matter whether it’s a small, medium-sized or large corporation, companies of all sizes are currently making their lenders wait longer and beyond the payment deadline for the receipt of the money,” said Hantzsch. The construction industry is particularly affected. “This is remarkable in that it was also an economic driver during the corona pandemic,” said Hantzsch.
He assumes “that we will then see a sharp increase in insolvencies in Germany in the first quarter of 2023,” predicted Hantzsch. However, according to the head of economic research, it is “right and important” for companies to go bankrupt again. An economy based on free market principles cannot stand “if all companies are kept alive no matter what”.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
