Data published by the Federal Statistical Office (Destatis) showed that in August the number of insolvencies increased by 10.7% year-on-year. The growth rate in insolvencies has been in double-digit territory since June 2023, with the exception of June 2024 (+6,3%).
Destatis said that in the first six months of 2024, corporate insolvencies increased by 24.9% compared to the same period in 2023, to 10,702 cases. Local courts have estimated creditors' claims for corporate insolvencies reported in the first half of 2024 at about 32.4 billion euros, compared with about 13.9 billion euros in the first half of 2023.
Based on 10,000 companies, a total of 31.2 corporate insolvencies occurred in Germany in the first half of 2024. The transport and warehouse sector accounted for the most insolvencies per 10,000 companies – 60.9 cases. It was followed by the construction industry with 47.4 cases of insolvency and other economic services (for example, temporary employment agencies) with 46.8 cases, as well as the hotel business with 40.8 cases of insolvency per 10,000 companies. The data also showed that 35,371 consumer insolvencies occurred in the first half of 2024. The number of consumer insolvencies increased by 6.7% compared to the first half of 2023.