Number of insolvencies in Germany hits 7-year high in June

Company closures up 16% on monthly basis, 48% yearly

By Gokhan Ergocun

ISTANBUL (AA) - The number of insolvencies at German companies hit 1,050 in June, the highest since 2016, the IWH institute said Thursday.

The figures were up 16% on a monthly basis and 48% yearly, it said.

The institute expects a slight decline in the number of insolvencies in the coming months.

"Analysis by IWH shows that around 15,400 jobs were affected in the top 10% of companies that filed for bankruptcy in June," it said, adding that the figure was the highest since August 2020.

The German economy entered a recession, contracting in the last quarter of 2022 and the first quarter of 2023.

Kaynak:

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