Dresden/Frankfurt – The energy crisis, sometimes exploding material costs and significantly increased interest rates are driving more and more companies into bankruptcy, including in Saxony. According to estimates by Creditreform, the insolvency rate, i.e. the number of bankruptcies per 10,000 companies, is 57 in the current year. In the previous year the value was 45, according to data published by the credit agency on Monday.
According to the data, there will be even more company bankruptcies in Bremen (120 cases per 10,00 companies), Berlin (103), Hamburg (81), North Rhine-Westphalia (77), Saarland (67), Schleswig-Holstein (64) and Hesse (61). Thuringia recorded the lowest value with a rate of 40. The credit agency did not provide detailed reasons for the regional insolvency situation. “Regional industry structure as well as different age structures of the companies are likely to be responsible for these differences,” it simply said.
Nationwide, 18,100 companies are expected to have filed for bankruptcy by the end of the year. That would be 23.5 percent more than last year. The last time there was a similarly high value was in 2019 (18,830 cases). The insolvency rate nationwide is now 60, after 48 the year before. “More and more companies are collapsing under the constant pressure of high energy prices and the interest rate turnaround,” explained Patrik-Ludwig Hantzsch, head of Creditreform economic research.
Like other experts, Hantzsch also expects a further increase in company bankruptcies: “The number of bankruptcies will also rise significantly in the coming months given these difficult economic conditions.” The number of cases has therefore almost normalized and the special effects from the Corona period have largely evaporated. In order to avert a wave of bankruptcies as a result of the pandemic, the state temporarily allowed exceptions to insolvency law.
2023-12-04 22:26:20
#company #bankruptcies #Saxony
