German corporate bankruptcies up 18.1% in February

ISTANBUL

The number of bankruptcies in Germany rose by 18.1% in February, on a yearly basis, the federal statistical office Destatis revealed on Friday.

The office also noted that it had increased by 26.2% in January 2024.

Since June 2023, the country saw double-digit growth rates in insolvencies, although standard insolvencies for this period were still slightly below the level of the pre-pandemic period.

In 2023, the number of corporate bankruptcies increased by 22.1% compared to 2022, the office added.

In 2023, some 17,814 firms filed insolvencies in the country.