Wiesbaden (Dpa) – The number of corporate bankruptcies increased in August. German district courts filed 1,147 corporate insolvencies, as reported by the Federal Statistical Office in Wiesbaden. It was 11.5 percent more than a year earlier. Most of the procedures were in construction and commerce. In July there was an overall decline of 3.8 per cent.
Preliminary data from the Federal Office indicate a further increase: the number of ordinary insolvencies requested in October increased by 18.4 percent compared to September. However, the statisticians pointed out that insolvency claims are often included in the statistics with a delay of several months.
Experts expect more business failures due to the economic slowdown. They expect a turnaround in insolvency data, which had also fallen due to legal exemptions in the Crown crisis.
© dpa-infocom, dpa: 221111-99-475866 / 3
