The number of company bankruptcies in Germany also increased in February. The German district courts reported 1,362 requested corporate insolvencies – that is 20.3 percent more than in the same month last year, as the Federal Statistical Office announced on Friday. According to the Wiesbaden authorities, the number of company bankruptcies has been increasing continuously since August 2022.
The district courts put the expected claims of the creditors at almost 3.2 billion euros. Most business insolvencies in February were in construction with 237 cases and in trade including maintenance and repair of motor vehicles with 234 cases.
In April there were signs of an easing. According to preliminary information from the statisticians, 14.1 percent fewer standard insolvencies were applied for than in March. In February (plus 10.8 percent) and in March (plus 13.2 percent) they had increased compared to the respective previous month. The authority emphasized that the insolvency applications only flow into the statistics with a delay of several months.
In recent years, state aid and the partially suspended obligation to file for insolvency have led to low-level company bankruptcies despite the corona and energy crises. The professional association of insolvency administrators and administrators in Germany sees the current increase as a normalization.
According to the association, the number of company bankruptcies in February of the current year was still well below the pre-corona value of February 2019. However, some sectors are particularly affected by the increase. “Changed consumer behavior, increased interest rates, high inflation rates and a shortage of skilled workers are particularly affecting stationary retail, the construction industry, but also the healthcare sector,” explained association chairman Christoph Niering. (dpa)