Insolvencies decrease despite Corona crisis – obligation to file applications for companies suspended | message
Berlin (Reuters) – Despite the recession due to the virus pandemic, the number of bankruptcies in Germany has recently decreased.
The reason is that the obligation to file for bankruptcy for companies in the corona crisis has been suspended from March 1 to the end of September, the Federal Statistical Office announced on Monday. Preliminary figures on regular insolvencies showed that there was a decline of almost 15 percent in May within a year. “The economic crisis caused by the corona pandemic and the measures to curb it will therefore not be reflected in May either”, according to the data. In the entire first quarter, the number of corporate bankruptcies fell by 3.7 percent to 4683. Consumer bankruptcies fell by a good nine percent to 15,095.
The strict conditions to combat the virus crisis and the months of closing shops and factories plunge Germany into the deepest post-war recession this year. Especially restaurants and companies from tourism and aviation are threatened in their existence. The industry association Dehoga has repeatedly warned that around a third of the companies in the hospitality industry are on the verge of bankruptcy.