Construction crisis: Hessian real estate company files for bankruptcy. High costs and interest rates as well as reduced demand led the company to bankruptcy.
Discussions with a potential investor are already advanced, meaning a rescue is likely. It is feared that the crisis will lead to even more bankruptcies this year if construction orders do not increase again in a timely manner. Otherwise, companies would no longer be able to retain staff, resulting in a wave of layoffs. There were a total of 1,164 bankruptcies in the industry in 2023, which corresponds to an increase of 30 percent compared to the previous year.