Economy: More corporate insolvencies in Germany

The number of company bankruptcies rose in August.

Economy: More corporate insolvencies in Germany

The number of company bankruptcies rose in August. The German district courts reported 1,147 corporate insolvencies, as reported by the Federal Statistical Office in Wiesbaden. That was 11.5 percent more than a year earlier. Most of the procedures were in construction and trade. In July, a decline of 3.8 percent was recorded overall.

The preliminary figures from the Federal Office indicate a further increase: the number of regular insolvencies applied for in October increased by 18.4 percent compared to September. However, the statisticians emphasized that the insolvency applications are often included in the statistics with a delay of several months.

Experts are expecting more company bankruptcies due to the economic slowdown. They expect a trend reversal in the insolvency figures, which had also fallen due to legal exemptions in the Corona crisis.

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