Accelerating major bankruptcies of German companies in the shadow of a weak economy

According to the report of the international group Tasnim news agency, newspaper ” Wirtschaftswohe wrote in an article: “The weak economy of Germany affects the bankruptcy of companies more and more and more large companies are affected by these conditions, and especially the companies related to the special care sector have been damaged.

According to a study conducted by credit insurer AllianzTrade, major bankruptcies in Germany are increasing day by day. Allianz Trade’s bankruptcy expert Maxime Lemerle said: “Big bankruptcies are back this year and they are moving towards the highest level since 2020.” According to him, so far this year there have been a large number of major bankruptcies in retail (fashion), hospitals and mechanical engineering. defines those with an annual turnover of at least 50 million euros.

According to this study, the number of major bankruptcies in Germany will increase to 45 in the first nine months of 2023. The 2020 record is moving forward. For comparison, it should be said that in the same period in 2022, this number was about 26 major bankruptcies and about a third less. In 2021, there were only 17 major bankruptcies. 2020 marked the highest level of bankruptcy since 2016 with 58 major bankruptcies in the whole year and 44 in the same period in the first 9 months.

Based on this survey in A total of twelve major textile companies and fashion retailers will go bankrupt by September 2023, as well as six clinics. Bankruptcy experts write: “This is in line with the German Hospital Institute (DKI) situation report, as two-thirds of German hospitals currently describe their financial situation as bad or very bad, and this figure is even higher for medium-sized hospitals. is higher.” In Allianz Trade, there were also major bankruptcies in mechanical engineering with five cases, as well as in metal (four) and construction (three cases).

According to this study, the highest number of bankruptcies of all sizes of companies so far have been recorded in the construction industry, followed by retail and service sector companies. The retail sector recorded the largest increase in the number of cases compared to the same period last year, but the hotel industry was showing weakness even before the VAT increase.