Fashion industry under pressure: The next major German fashion chain files for bankruptcy. After a difficult year in 2023, things will continue to be difficult in the fashion industry this year.
According to credit insurer Allianz Trade, companies in all sectors will see an increase in insolvencies worldwide for the third year in a row in 2024. The number of bankruptcies among German companies is expected to increase by 13 percent in 2024 compared to the previous year. It will not be until 2025 that it will settle at a somewhat more stable level of just under 20,000.