+ 13.7 % increase in insolvencies in September 2024

Marc Nemitz Marc Nemitz | 14.10.2024

The number of regular insolvencies applied for in Germany rose by 13.7% in September 2024. Companies in the transport and construction sectors are particularly affected

Wiesbaden, October 2024 - In September 2024, the number of regular insolvencies applied for in Germany rose by 13.7% compared to the same month last year. This is according to provisional data from the Federal Statistical Office (Destatis). With the exception of June 2024, double-digit growth rates have been recorded continuously since June 2023. However, these figures only include cases in which the insolvency court has already made a decision. The actual insolvency application is often filed around three months beforehand.

Sharp rise in corporate insolvencies

Final figures are already available for July 2024. In this month, the German local courts reported 1,937 corporate insolvencies, which corresponds to an increase of 22.1% compared to July 2023. Creditor claims from these insolvencies amounted to around 3.2 billion euros, compared to 3.1 billion euros in the previous year.

The transport and storage sector is particularly hard hit. In this sector, 10.8 insolvencies per 10,000 companies were reported in July 2024 - the highest rate of all sectors. Insolvency figures were also above average in the construction industry (8.5 insolvencies per 10,000 companies) and in other business services such as temporary employment agencies (7.9 insolvencies per 10,000 companies). The hospitality industry also reported higher figures with 7.2 insolvencies per 10,000 companies.

More consumer insolvencies

Consumer insolvencies also rose significantly in July 2024. At 6,690 cases, there were 18.0% more consumer insolvencies than in July of the previous year.

It is important to note that these statistics only record insolvencies that are settled through official insolvency proceedings. Companies or individuals that close for other reasons, such as voluntary closures, are not included in these figures.

The data for September 2024 is based on provisional information and is part of an experimental statistical procedure based on the announcements of the local courts. They are therefore not yet fully reliable. Around 30% of all insolvency proceedings in Germany are regular insolvencies. These are predominantly corporate insolvencies, but also include cases of former self-employed persons or shareholders of commercial companies.

Urgent call for action from politicians

The current insolvency figures represent a clear call to action for the government. The 13.7% increase in regular insolvencies in September 2024 and the significant growth in the corporate and consumer sectors highlight the need to develop economic support and targeted measures to stabilize the affected sectors. In order to strengthen confidence in the economy and prevent further insolvencies, concepts to promote business liquidity and support consumers should be developed as quickly as possible.


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