In H1 2023, number of bankruptcy applications in Germany rose by over 20%
The number of bankruptcy applications filed by German companies in the first half of this year increased by 20.5 percent compared to the corresponding period last year – according to the report of the Federal Statistical Office of Germany, cited by TASS
In particular, the report reads, “In H1 2023, German district courts reported a final count of 8,571 corporate insolvency filings – 20.5 percent up compared to H1 2022.”
According to the department, the claims of creditors as a result of these bankruptcies were estimated at €13.9bn. Moreover, the report states that the largest number of bankruptcy applications were in the transport and warehousing services sector, as well as in the provision of other economic services, such as temporary employment. The fewest applications came from enterprises in the energy supply sector.
According to data from the Leibniz Institute for Economic Research (IWH), released in August, the number of bankruptcy applications among German companies remained high in July and above the pre-coronavirus average. It is also reported that in July, due to the potential insolvency of firms in Germany, 9,300 jobs were at risk.
