Germany’s Federal Statistical Office (Destatis) on Friday said 5,209 companies filed for bankruptcy in Germany in the first three months of 2024 — with the trend expected to continue.
Experts think the number of corporate insolvencies in Germany will increase to about 20,000 cases this year as part of a longer-term pattern.
How do the figures stack up?
The latest figure means corporate insolvencies are up 26.5% compared with the first quarter of 2023.
They are also 11.2% more than in the first quarter of 2020 when 4,683 corporate insolvencies were filed before the COVID-19 pandemic had its full impact. The coronavirus pandemic period itself saw special, temporary regulations introduced and low insolvency rates.
The…
