Germany’s bankruptcies on the rise in November

ISTANBUL

The number of bankruptcies in Germany rose 12.6% year-on-year in November, according to a preliminary reading.


The rate of increase in Germany’s bankruptcies has been in the double-digit zone since June 2023, the country’s statistical bureau Destatis said on Thursday.


In the first three quarters of the year, the number of bankruptcies increased 22.2% on an annual basis to 16,222, the data showed.


Most bankruptcies were seen in the economic sectors of transport and warehousing, the construction industry, and other economic services, such as temporary employment agencies.


The debt to be paid to creditors by bankrupt companies totaled €45.6 billion ($47.4 billion), up from approximately €21.1 billion, in the first three quarters of the year.


Meanwhile, some 53,409 claimed consumer bankruptcies in January-September, up 6.8% year-on-year.