The wave of bankruptcies in Germany is not slowing down. In September, significantly more companies had to file for insolvency than in the previous year.
In September, significantly more entrepreneurs in Germany had to go to insolvency court than a year before. According to preliminary information from the Federal Statistical Office in Wiesbaden, the number of registered procedures rose by 13.7 percent compared to September 2023. With the exception of June of this year (plus 6.3 percent), the growth rate has been in the double digits in every month since June 2023 . According to preliminary figures, the increase in August was 10.7 percent.
The courts will decide within three months whether these registrations actually lead to insolvency proceedings. According to the most recent final figures available, the district courts registered 1,937 corporate insolvencies filed for July this year, 22.1 percent more than in July a year ago.
Creditors’ claims in July amounted to 3.2 billion euros
Creditors’ claims only increased slightly year-on-year. According to statisticians, the district courts put this at around 3.2 billion euros for July, after 3.1 billion euros in the same month of the previous year.
Companies in the transport and warehousing sectors were most often affected in July. This was followed by the construction industry and other economic services such as temporary employment agencies and the hospitality industry. The number of consumer bankruptcies also increased significantly compared to July 2023, by 18 percent to 6,690 cases.
Source: Stern
