In May 2024, according to preliminary data from the Federal Statistical Office (Destatis), the number of regular insolvency applications in Germany increased by 25.9% compared to the same month last year. This follows a 28.5% increase observed in April 2024 compared to April 2023.
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These statistics reflect applications only after the first decision by the insolvency court, which typically occurs nearly three months after the actual application date. The insolvency statistics specifically capture business closures occurring within formal insolvency proceedings, excluding those due to other reasons or before acute financial difficulties arise.
In the first quarter of 2024, final results from the courts reported 5,209 corporate insolvency applications, marking a 26.5% increase from the first quarter of 2023 and an 11.2% increase from the first quarter of 2020 (4,683 applications), which serves as a pre-pandemic comparison period characterised by special regulations and low insolvency figures.
On average, there were 15.2 corporate insolvencies per 10,000 companies in Germany in the first quarter of 2024. The highest number of insolvencies per 10,000 companies were in the transportation and storage sector (29.6 cases), followed by construction (23.5 cases), other economic services (such as temporary employment agencies) with 23.0 cases, and manufacturing with 20.3 insolvencies per 10,000 companies.
Source: www.moebelfertigung.com