Some 14,700 firms will go bankrupt by the top of this yr, based on estimates by a credit score reporting company.
That can be about 4% greater than in 2021, based on calculations by Creditreform.
“Persistent inflation, rising interest rates and energy costs, as well as an increasingly fierce competitive situation are taking their toll on many companies,” stated Patrik-Ludwig Hantzsch, head of financial analysis at Creditreform, throughout a presentation in Frankfurt on Tuesday.
Like many different specialists, Creditreform expects an extra improve in company insolvencies subsequent yr. The improve from 2021 to 2022 is average, Hantzsch stated, “but is likely to be just the prelude to a further acceleration in insolvency activity.”
In 2021, the yr of the pandemic, there have been 13,993 instances of company insolvency in Germany, the bottom determine for the reason that introduction of the present insolvency code in 1999, based on official figures.
However, in an effort to avert a wave of bankruptcies because of the pandemic, the state had allowed for exemptions for the businesses.
