As of: March 16, 2024, 8:11 p.m
By: Max Schäfer
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More and more companies are having to file for bankruptcy.
Experts expect a further increase in 2024.
However, they are not observing a “wave of bankruptcies”.
Wiesbaden/Munich – Weak economy, inflation and high interest rates: companies are currently facing challenges.
This is also reflected in the figures for insolvencies in Germany.
More and more companies are having problems - and ultimately have to file for bankruptcy.
This emerges from the data from the Federal Statistical Office.
According to preliminary data from the Federal Office, in February 2024 the number of regular insolvencies filed was 18.1 percent above the level in February 2023. When comparing January, the increase is even larger at 26.2 percent.
A trend is emerging: Since June 2023, the Federal Statistical Office has consistently observed double-digit growth rates compared to the previous year.
The number of bankruptcies is increasing significantly – 17,814 companies affected
The number of bankruptcies in 2023 is now official: 17,814 companies filed for bankruptcy last year.
That is 22.1 percent more than in 2022. However, the number is lower compared to 2009, when the financial and economic crisis prevailed.
At that time, almost 33,000 companies had to declare their insolvency.
According to experts, the trend is set to continue: They expect the number of bankruptcies in Germany to rise to almost 20,000.
The reasons for this are the consequences of the weak Corona years, high energy prices and increased interest rates.
In addition, exception rules that were intended to prevent a wave of bankruptcies in the corona pandemic are now expiring.
Despite the increase in bankruptcies: Experts do not see a “wave of bankruptcies” heading towards Germany
However, experts do not yet see a “wave of bankruptcies” approaching Germany.
Despite continuous increases, the number of bankruptcies is still below that of the pre-Corona period, said insolvency administrator Alexander Eggen from the Frankfurt law firm Schultze & Braun.
“To a large extent, we are experiencing a normalization of insolvency events.” In 2023, the number of companies that had to declare themselves insolvent was still five percent below the 2019 figure.
Locked bars at KaDeWe: The department store is a prominent victim of the trend towards more bankruptcies in Germany.
© Christophe Gateau/dpa
However, the prospects are not good.
“The major economic and structural challenges in Germany are affecting the economy,” said DIHK medium-sized business expert Marc Evers.
“Unfortunately, a further increase in corporate insolvencies can be expected in the coming months.” More and more companies reported that customers were unable to pay.
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The risk of insolvency is particularly high in the catering industry
In 2023, most bankruptcies occurred in the transport and warehousing sectors as well as in the construction and hospitality industries.
According to the credit agency Creditreform, the situation in the hospitality industry is particularly difficult.
The number of bankruptcies in the catering industry has risen above average to 27 percent.
The prospects for 2024 are also not good.
“Our evaluations suggest that the insolvency trend in the hospitality industry will continue,” said the head of Creditreform economic research, Patrik-Ludwig Hantzsch.
“The wave has just begun.” (ms/dpa)