novaerion Insolvency Monitor fiscal year 2022

At 14,590 insolvencies, the final insolvency figures for the financial year are approximately 4.3% above the previous year's level. The 3 largest insolvencies in terms of employee numbers in fiscal year 2022 include Galeria Karstadt Kaufhof (approx. 17,000 employees), Ludwig Görtz Schuhhandlung (approx. 2,200 employees) and automotive supplier Dr. Schneider (approx. 2,000 employees).

According to preliminary figures from the Federal Statistical Office, the figures for the 2023 financial year are expected to fall by 3.2% compared to December 2022. In February, on the other hand, an increase of 10.8% compared to January 2023 is expected. According to a study by Allianz Trade, insolvencies in Germany are expected to rise by 17.0% in fiscal year 2023. This is due to high energy costs, rising interest rates and wages. Government support measures have saved around 2,600 companies by 2023 — should macroeconomic development continue to worsen, there could be a wave of bankruptcies without further support programs, according to Allianz Trade.

The novaerion Insolvency Monitor will keep you up to date on insolvency developments in the coming months as well.

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