Whats going on here?
German company insolvencies soared by 41% in the first half of 2024, with real estate, automotive, and mechanical engineering firms bearing the brunt.
What does this mean?
The rise in insolvencies is a stark reminder of the sustained financial strain German companies are under. In the first six months of 2024, 162 firms with turnovers exceeding 10 million filed for insolvency, marking a sharp increase of 41% over the previous year, according to Handelsblatt. This surge highlights the ongoing impact of the pandemic aftermath, inflation, and rising energy and material costs. Companies in the real estate, automotive, and mechanical engineering sectors have been particularly vulnerable. Structural issues like skilled lab…
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