In the first six months of this year, the number of bankruptcies of companies in Germany increased by almost 30%. This is reported by the telegram channel “Bild in Russian” with reference to the Association of economic researchers Creditreform.
According to Creditreform, for the first six months of 2024 in the FRG as a whole registered about 11 thousand bankruptcies of companies – this is the highest figure for almost 10 years.
“In the first half of 2024, companies continue to struggle with the effects of the 2023 recession, ongoing crises and weak economic development. All of this is undermining the fortunes of many companies,” said Creditreform’s head of economic research Patrick-Ludwig Hantzsch
Creditreform analysts expect German business insolvency to increase over the course of this year. They argue that the rise in bankruptcies reflects “the problems of past crises”.
Significantly more medium and large companies have been forced to file for bankruptcy this half year, notably Galeria Karstadt and FTI-Touristik, Creditreform says.
It is noted that the bankruptcies, which were recorded between January and June, affected about 133,000 employees. Last year during the same period there were 125 thousand people.
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