Stuttgart/Neuss (dpa/lsw) - Despite the Ukraine war and its economic consequences, fewer companies went bankrupt in the first half of the year than before. The insolvency rate - the number of bankruptcies per 10,000 companies - was 43 below the value for the first six months of the previous year (51), as reported by the credit agency Creditreform, citing its own extrapolation, on Tuesday.
Baden-Württemberg is one of the federal states with the fewest bankruptcies. However, Bavaria (36), Saxony (37) and Thuringia (39) fared better. The national average is 48.
Nationwide, there has been no wave of bankruptcies despite the new challenges for the German economy - on the contrary: from January up to and including June, Creditreform counted 7,300 bankruptcy applications from companies after 7,510 in the same period last year. "Despite more than two years of Corona and the recent massive cost explosion, there has been no increase in insolvencies," summarized the head of Creditreform economic research, Patrik-Ludwig Hantzsch.
Creditreform named the MV shipyards and the Orsay fashion chain from Willstätt in Baden as prominent examples of insolvencies. A company is insolvent when it can no longer pay outstanding bills and repay its debts.
