Energy crisis and inflation push more German firms into insolvency … – Reuters

June 29 (Reuters) – The number of German firms pushed into insolvency rose in the first half of this year at the fastest pace in more than two decades due to the energy crisis, inflation and rising interest rates, a study by credit agency Creditreform showed on Thursday.

There were 8,400 corporate insolvencies in Germany from January to June, up 16.2% from the first half of 2022 and the biggest percentage increase in more than 20 years, Creditreform said.

“The enormous cost burdens caused by excessively high energy and material costs are making an effect,” said Creditreform chief economist Patrik-Ludwig Hantzsch.

Other factors that weighed on firms included poor consumer conditions and generous state money distributions during past crises, …

Read the full article at: https://www.reuters.com/business/energy-crisis-inflation-push-more-german-firms-into-insolvency-study-2023-06-29/