Despite the deteriorating economy, the number of bankruptcies in Germany has fallen sharply again. In September there were a good fifth (20.6 percent) fewer applications for standard insolvencies than in August, as the Federal Statistical Office announced on Monday in Wiesbaden.
In that month there was a significant increase compared to July. However, the statisticians emphasized that the insolvency applications are often included in the statistics with a delay of several months.
Experts expect more bankruptcies due to the economic crisis. The Leibniz Institute for Economic Research in Halle assumes that the numbers will increase. It was recently said that the main reasons for this were sharply rising prices, for example for energy and problems in the supply chains.
Companies are burdened by high energy costs
According to the credit agency Creditreform, the high energy costs mean that companies pay their bills late or not at all. The experts expect a trend reversal in the insolvency figures, which have been falling so far.
The statisticians had final figures for July. According to this, 1,154 company insolvencies were reported to the district courts in the month, 3.8 percent less than in the same period last year. Most of the procedures were in construction and trade.
The number of consumer bankruptcies fell sharply in July by a good quarter (26 percent) compared to the same month last year. However, according to the statisticians, a change in the law is reflected here, which makes it possible to be released from the remaining debt after three instead of six years. A number of those affected had therefore waited with their insolvency application in order to benefit from the new regulation. “This catch-up effect caused a sharp increase in consumer bankruptcies from the beginning of 2021 and now seems to have ended.”
