Germany has experienced an increase in corporate bankruptcies as 5,209 companies filed for insolvency in the first quarter, according to the Federal Statistical Office, or Destatis.
The first three months of this year saw a 26.5-percent increase in bankruptcies compared to the same period last year and an 11.2-percent increase compared to 2020 before pandemic-related closures.
Experts told German press agency dpa they believe the number of corporate insolvencies in Germany would likely rise to approximately 20,000 cases this year, following a consistent long-term trend.
In May, there was a 25.9-percent increase in regular insolvencies compared to the previous year, marking a continued trend of double-digit…
