Germany’s number of requested corporate insolvency applications in December 2024 has increased by 13.8% compared to the previous year, according to preliminary reports. For the year 2024, the increase is 16.8% compared to 2023, as announced by the Federal Statistical Office (Destatis) on Friday.
It is essential to consider that the applications only enter the statistics after the first decision of the insolvency court. In many cases, the actual time of the insolvency application is approximately three months prior.
For October 2024, the district courts reported 2,012 requested corporate insolvencies, a 35.9% increase from October 2023. The creditors’ claims from the reported corporate insolvencies, as estimated by the district courts, were approximately 3.8 billion euros. In the previous year’s October, the claims were around 1.6 billion euros.
Per 10,000 companies, there were 5.9 corporate insolvencies in Germany in October 2024. The most insolvencies per 10,000 companies fell under the economic sector of ‘Transport and Warehousing’ with 11.5 cases, followed by the construction industry with 8.9 insolvencies and the hospitality industry with 7.9 insolvencies per 10,000 companies.
In October 2024, there were 6,237 consumer insolvencies, a 10.8% increase from October 2023, according to the statisticians.