Corporate insolvencies in Germany jumped 15.2% year-on-year in December, according to preliminary data released Monday by the Federal Statistical Office (Destatis).
Final figures showed that corporate insolvencies rose 4.8% annually in October to 2,108 cases, News.Az reports, citing foreign media.
The transportation and warehousing sector recorded the highest insolvency rate in October, with 12.73 bankruptcies per 10,000 companies, followed by the hospitality sector at 10.5 cases per 10,000 companies.
The total debt expected to be paid to creditors in connection with company bankruptcy filings amounted to €2.6 billion ($3.04 billion), down from approximately €3.8 billion in October…