Company insolvencies rise to 14-year high.
Germany has seen a big rise in company failures. Almost all industries are affected. Experts now say the situation is not as bad as first thought.
In the second quarter, the number of companies going bankrupt in Germany increased. Over 8,500 businesses declared insolvency in the first quarter alone. The transportation and warehousing sectors are experiencing a large number of failures. April saw 2,276 businesses declare insolvency. Despite the increase, a closer examination suggests the situation is not as serious as initially reported.
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Highlights
High Company Failures
The number of company failures in Germany is high, the highest in 21 years.
Rising Insolvencies
Company insolvencies in Germany have increased significantly.
April Insolvency Numbers
In April, 2,276 businesses declared insolvency.
First Quarter Numbers
Over 8,500 businesses declared insolvency in the first quarter.
Transport Sector Impact
The transportation and warehousing sectors are particularly affected by failures.