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 transport and warehou…
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