Corona will bring a huge surge of bankruptcies in Germany

The current data do not, for example, are at first glance surprising: The number of company bankruptcies rose in the first half of the year 2020, but fell compa

Corona will bring a huge surge of bankruptcies in Germany

The current data do not, for example, are at first glance surprising: The number of company bankruptcies rose in the first half of the year 2020, but fell compared to the year 2019. They decreased by 8.2 percent to 8900 cases, such as the credit Agency credit reform announced in Düsseldorf. Including a number of large companies, such as Galeria, Karstadt, Kaufhof, hallhuber, Esprit, as well as Vapiano and Maredo are to be found.

The low overall figures disguised, but the actual situation of the company. "The bankruptcy to happen as a barometer of the economic development has been decoupled from the actual Situation of the company," said credit reform.

  • All the information about the Corona-crisis in the Live Ticker of FOCUS Online
billion in aid from the Federal government to help "zombie companies"

The numbers, professionals back the mainly to the state support measures in the Corona-crisis: The billions in aid "should adhere to a surge in bankruptcies, in particular in the case of small and medium-sized enterprises, and prevent the insolvency numbers stable." This effect would have reached the measures.

credit reform feared, however, deadweight: Also such companies in the insolvency escaped, that would have been without the crisis of going bankrupt are. Such companies are often referred to as a "Zombie company".

Temporal suspension of the insolvency request obligation shifts the Problem of just

The current low bust figures, thanks mostly to a very different reason: the suspension of the obligation to apply for Insolvency is not temporary.

With this measure is to protect the Federal government companies, which are suffering heavily under the Corona of a crisis. On the website of the Federal Ministry of justice in the unavoidable legal language: "The liability and, in part, punitive three-week insolvency request obligation will be reinforced temporarily for up to 30. September 2020 exposed.“ The scheme is applicable only for such operations, in the case of "the insolvency or over-Indebtedness on the consequences of the COVID-19-based pandemic".

credit reform-head-expected dramatic Numbers

This means: as a result of the Corona-pandemic must report their insolvency later than otherwise required. Chiefs, who have now no more money, you must do so only in October 2020 open to the public. Until then, the fear of the experts, a variety of failures.

the known Figures to the increase in short-time work show. Many companies use the help of the state, in order to keep their employees despite the downturn. Currently, over seven million Employees in short-time work. The model works but only if the company after the lifting of the lock downs quickly to new orders.

Also interesting: the New study, experts warn that short-time work brings up to ten million renter-households in financial distress

But this is anything other than safe. Should the economy recover quickly, "threatens in the autumn of a wave of insolvencies on an unprecedented scale," says Volker Ulricht, the chief Executive of the credit reference Agency Creditreform, in the "world".

insolvency jumps, especially in retail and hospitality

How strong the bankruptcies statistics in the autumn, is currently still unclear. The credit reporting Agency Crif Bürgel dares in the "world"-article, a forecast of over 29,000 insolvencies until the end of the year. That would be about 10,000 more than in 2019. Statista, the number of bankruptcies since the year 2007. Some experts expect that in 2020 an increase to 29,000 insolvencies. Tarte - flash recipe: the fast Alternative to the classic PCP's Flammkuchen - the flash recipe: the fast Alternative to the classic

mbe/with Material from dpa and AFP goes
Updated Date: 16 June 2020, 18:27

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