According to preliminary data from the Federal Statistical Office (Destatis), the number of regular insolvencies filed in Germany rose by 10.7% in August 2024 compared to the same month last year. With the exception of June 2024 (+6.3%), the growth rate has been in the double-digit range since June 2023. When considering the results, it should be noted that the applications are only included in the statistics after the first decision of the insolvency court. In many cases, the actual time of the insolvency application is almost three months earlier.
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According to final results, the local courts reported 10,702 corporate insolvencies filed in the first half of 2024. This was 24.9% more than in the first half of 2023.
The local courts estimated the creditors' claims from the corporate insolvencies reported in the first half of 2024 at around 32.4 billion euros. In the first half of 2023, the claims were around 13.9 billion euros.
Based on 10,000 companies, there were a total of 31.2 corporate insolvencies in Germany in the first half of 2024.
At the same time there were 6.7% more consumer bankruptcies in the first half of 2024 than in the same period last year. There were 35,371 consumer bankruptcies in the first half of 2024.
When calculating the frequency of insolvencies, information from the statistical company register on the company population was used. Companies are understood to be legal entities. Legal entities are legal and natural persons who independently carry out economic activities, such as stock corporations, limited liability companies, general partnerships, or sole proprietorships.
More information:
Destasis
www.destatis.de