The bankruptcy wave is rolling: In June, almost 14 percent more companies reported insolvency than in the previous year. Expected creditor claims: around 1.3 billion euros.
The number of company bankruptcies in Germany has increased. In June, 13.9 percent more companies applied for standard insolvency proceedings than in the same month last year, according to preliminary data from the Federal Statistical Office. In May there was an increase of 3.1 percent. The number of corporate insolvencies has been increasing continuously since August 2022.
The proceedings are included in the statistics only after the first decision of the insolvency court. Therefore, the actual time of the insolvency application is in many cases around three months earlier, the authority explained.
In April 1428 corporate insolvencies nationwide
Final figures are now available for April 2023: In the spring month, the district courts reported 1,428 corporate insolvencies nationwide. That was 14.4 percent more than a year earlier. The courts estimated the expected claims of the creditors at around 1.3 billion euros. A year ago it was almost 1.4 billion.
State aid and the partially suspended obligation to file for insolvency had caused company bankruptcies at a low level in recent years, despite the corona and energy crises.
According to the insolvency administrator association VID, the increase in June is not unusual. “At the end of a quarter, there are deadlines for declarations and payments to public creditors such as the tax authorities or social security agencies,” explained VID chairman Christoph Niering. “If these payments cannot be made, then the bankruptcy filings will increase.”
Source: Stern
