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Germany sees 12.6 percent rise in bankruptcies in November
(MENAFN)
The number of bankruptcies in Germany rose by 12.6 percent year-on-year in November, according to preliminary data.
The increase in bankruptcies has remained in the double-digit range since June 2023, as reported by Germany's statistical agency, Destatis, on Thursday.
In the first three quarters of the year, bankruptcies surged by 22.2 percent compared to the same period last year, reaching a total of 16,222 cases.
The highest number of bankruptcies occurred in the transport and warehousing, construction, and other economic sectors, including temporary employment agencies.
The total debt owed to creditors by bankrupt companies amounted to €45.6 billion (USD47.4 billion) in the first nine months of the year, up from around €21.1 billion in the same period last year.
Additionally, consumer bankruptcies in the January-September period totaled 53,409, marking a 6.8 percent increase from the previous year.
The number of bankruptcies in Germany rose by 12.6 percent year-on-year in November, according to preliminary data.
The increase in bankruptcies has remained in the double-digit range since June 2023, as reported by Germany's statistical agency, Destatis, on Thursday.
In the first three quarters of the year, bankruptcies surged by 22.2 percent compared to the same period last year, reaching a total of 16,222 cases.
The highest number of bankruptcies occurred in the transport and warehousing, construction, and other economic sectors, including temporary employment agencies.
The total debt owed to creditors by bankrupt companies amounted to €45.6 billion (USD47.4 billion) in the first nine months of the year, up from around €21.1 billion in the same period last year.
Additionally, consumer bankruptcies in the January-September period totaled 53,409, marking a 6.8 percent increase from the previous year.
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