The business entity in question has made headlines lately. - A marginal rise is observed in bankruptcy filings.
In the past three months, Saxony-Anhalt has witnessed a slight uptick in the number of insolvency requests. The Statistical State Office disclosed this information on Monday, which also mentioned that a total of over 700 applications for initiating insolvency proceedings were submitted to the district courts in the region. From these, nearly 520 cases were from individual people - labeled as 'consumer insolvencies.' This figure is roughly the same as the number of self-employed applications, with 111 forms filed.
The number of company insolvencies experienced a more significant increase - nearly 11% more than last year's equivalent. The Office received around 70 requests for insolvency proceedings from companies. The majority of these were submitted by businesses in the construction industry. While the number of insolvency petitions in the fields of gastronomy, trade, and car repair remained comparable to that of the previous year, no major changes were observed.
Statement: Statistical State Office.
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The economic situation in Saxony-Anhalt has been under scrutiny due to the increase in company insolvencies. This rise is largely attributed to the construction industry, with over 70 such cases filed for insolvency proceedings this year. To avoid joining this list, several companies in Saxony-Anhalt are now exploring opportunities to diversify their trade and strengthen their financial position. If insolvency proceedings become necessary, adhering to proper procedures during this process can help minimize damage and potentially facilitate a successful rebuilding phase for the company.
Source: www.stern.de
