According to preliminary data from the Federal Statistical Office (Destatis), the number of regular insolvencies filed in Germany rose by 22.9% in October 2024 compared to the same month last year. Except for June 2024 (+6.3%), the growth rate has been in the double-digit range since June 2023.
In August 2024, according to final results, the local courts reported 1,764 corporate insolvencies filed. This was 13.4% more than in August 2023. The local courts estimated the creditors' claims from the corporate insolvencies reported in August 2024 at around 2.4 billion euros. In August 2023, the claims were around 1.8 billion euros.
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Insolvency rate highest in transport and storage sector
In August 2024, there were a total of 5.1 corporate insolvencies per 10,000 companies in Germany. The transport and warehousing sector accounted for the majority of insolvencies per 10,000 companies, with 9.2 cases. This was followed by the hospitality industry with 7.8 insolvencies, other economic services (e.g. temporary employment agencies) with 7.3 cases, and the construction industry with 7.2 insolvencies per 10,000 companies.
More information:
Destasis
www.destasis.de