More and more companies are failing in Germany
Bankruptcies are on the rise in our western neighbors due to energy prices. There are as many as one-third more bankrupts than a year ago.
In September, 762 German companies declared bankruptcy, according to a report by the Halle Institute for Economic Research (IWH). This is as much as 34 percent more than a year ago. Their number is likely to rise further in the coming months. The main reason is the worsening economic situation and rising prices. The most acute are higher energy, wage and credit costs.
IWH estimates that in October the number of bankruptcies will also be one-third higher than a year earlier. In November, on the other hand, the increase in bankruptcies could reach 40 percent.
The German Confederation of Crafts warns that the energy crisis will cause a wave of bankruptcies. In general, there is increasing talk in Germany of an impending recession.
