Business bankruptcies increased by 24% in Germany

Bankruptcy filings of companies and partnerships in Germany last month rose 24 percent to 959, compared to the same period in 2022.

In Germany, the Halle Institute for Economic Research (IWH) reported that despite improving economic expectations, the number of companies failing in the country reached a 3-year high in March.

According to the report announced by IWH, last month the number of bankruptcy filings of companies and partnerships in Germany increased by 24 percent compared to March 2022, to 959. Thus, bankruptcies rose to the highest level since May of 2020.

The increase in bankruptcies was 15 percent compared to February.

“THE LOW BANKRUPTCY NUMBERS ARE BEHIND”

Steffen Müller, Head of Structural Change and Efficiency at IWH, stated that the times of exceptionally low bankruptcy numbers are over for now. he used the phrase. (AA)