The wave of bankruptcies is sweeping other companies along with it. In August, significantly more owners had to go to bankruptcy court than a year earlier.
In Germany, significantly more companies filed for bankruptcy in August than a year earlier. According to preliminary figures, 10.7 percent more cases were filed with the courts than in the same month last year, according to the Federal Statistical Office. So far this year, there has only been an increase of less than ten percent in June.
It is still unclear whether all the bankruptcies filed will actually result in proceedings that will then be included in the official statistics. According to these final results, there were 10,702 corporate bankruptcies filed in the first half of the year, including June. That 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 ago. The proceedings have therefore become larger on average. Companies in the transport and warehousing sectors are most frequently affected. Temporary employment agencies and construction companies also frequently declare 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.
Communication from Destatis
Source: Stern
