The number of company bankruptcies in Germany rose significantly in September. Two areas are particularly affected.
Also because of the economic downturn, there are more and more company bankruptcies in Germany. According to preliminary information, the number of regular insolvencies filed rose by 13.7 percent in September, as the Federal Statistical Office announced on Friday. “With the exception of June 2024 (+6.3 percent), the growth rate has been in the double-digit range since June 2023.”
These applications are only included in the statistics after the initial decision of the insolvency court. In many cases, the actual date of the bankruptcy filing is almost three months beforehand.
According to the final results, the district courts reported 1,937 corporate insolvencies filed in July, 22.1 percent more than in the same month last year. The courts put the creditors’ claims at around 3.2 billion euros, after around 3.1 billion euros a year ago.
Based on 10,000 companies, there were a total of 5.6 corporate bankruptcies in July. Most of the bankruptcies occurred in the transport and warehousing sector with 10.8 cases. This was followed by the construction industry with 8.5 insolvencies and other economic services – such as temporary employment agencies – with 7.9 cases, as well as the hospitality industry with 7.2 insolvencies per 10,000 companies. Meanwhile, the number of consumer bankruptcies also rose by 18 percent to 6,690 in July.