The number of bankruptcies in Germany in the last quarter of 2024 was 26.5% higher than in the same period last year, the German information portal Berlin 24/7 reported on June 14, citing data from the Federal Office of Country statistics.
The portal points out that, according to published statistics, in the first three months of 2024, 5,209 companies declared bankruptcy, 26.5% more than in the first quarter of 2023.
According to the portal, the upward trend of the indicator continued in the second quarter: in May 2024, 25.9% more applications for company bankruptcy were filed than a year before. The publication notes that since June 2023, Germany as a whole has experienced a double-digit year-on-year growth rate in the number of bankruptcies.
It is reported that, according to experts’ forecasts, this year the number of company bankruptcies in Germany will increase to 20,000. The portal cites the consequences of the coronavirus pandemic, high energy prices and rising interest rates as reasons for this development of events. Additionally, benefits that were in place during the pandemic to avoid a wave of bankruptcies have expired.
However, it should be noted that, despite the significant growth, this is a relatively low figure compared to the long term. For example, in 2009, during the financial and economic crisis, almost 33,000 companies went bankrupt in Germany.
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.