Insolvency: More and more companies are slipping into bankruptcy

Insolvency: More and more companies are slipping into bankruptcy

The state used a lot of money to prevent a wave of bankruptcies during the Corona and energy crisis. Now the number of insolvency proceedings is increasing. Amount of creditor claims in the first half of the year: 13.9 billion euros.

The trend in company bankruptcies in Germany continues to point upwards. The number of standard insolvency proceedings applied for in August this year was 13.8 percent higher than in the same month last year, according to the Federal Statistical Office. In July 2023 there was an increase of 23.8 percent.

The procedures are only included in the statistics after the insolvency court’s first decision, as the Wiesbaden statisticians explained. In many cases, the actual date of the insolvency application was almost three months earlier.

The Federal Office now has final figures for the first half of 2023: In the six months, the local courts in this country reported 8,571 corporate insolvencies, 20.5 percent more than a year earlier.

Experts had expected an increase

According to the courts, the expected claims of the creditors amounted to around 13.9 billion euros. In the first half of 2022 it was around 8.2 billion euros.

In recent years, government aid and partially suspended obligations to file for insolvency have kept the number of company bankruptcies in Germany at a low level despite the Corona and energy crisis. Experts therefore expected an increase in the current year.

Source: Stern

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