Economic situation - Creditreform: Relatively few company bankruptcies in MV in 2023
In Mecklenburg-Vorpommern, the energy crisis, soaring material costs and rising interest rates have driven relatively few companies into insolvency this year. For 2023, the credit agency Creditreform expects 51 insolvencies per 10,000 companies in the north-east, compared to just 40 in the previous year. By comparison, the insolvency rate nationwide is 60, compared to 48 in the previous year, according to the Creditreform data presented in Frankfurt on Monday. This figure ranges from 40 in Thuringia to 120 in Bremen.
The credit agency did not provide detailed reasons for the regional insolvency figures. "Regional industry structures and different age structures of the companies are likely to be partly responsible for these differences," it simply said. There was also no regional information on details such as the number of employees affected or the level of payment defaults.
In Germany, Creditreform expects 18,100 companies to have filed for insolvency by the end of this year, 23.5 percent more than in 2022. "More and more companies are collapsing under the constant pressure of high energy prices and the interest rate turnaround," said Patrik-Ludwig Hantzsch, Head of Creditreform Economic Research.
Like other experts, Creditreform expects a further increase in company bankruptcies. "In these difficult economic conditions, the number of insolvencies will continue to rise significantly in the coming months," said Hantzsch. The number of cases has therefore almost normalized and the special effects from the corona period have largely evaporated. In order to avert a wave of bankruptcies as a result of the pandemic, the state had granted temporary exemptions. By 2022, insolvency figures had risen again for the first time since the 2009 economic crisis.
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- Despite the energy crisis and rising material costs in Thuringia, the insolvency rate remains lower than in Bremen, according to the Creditreform data presented in Frankfurt.
- The company bankruptcy rate in Mecklenburg-Vorpommern in 2023 is projected to be 51 per 10,000 companies, a slight increase from the previous year's 40, as estimated by the credit reference agency Creditreform.
- Patrik-Ludwig Hantzsch, Head of Creditreform Economic Research, stated that more companies are collapsing under the weight of high energy prices and the interest rate turnaround, leading to an expected increase in company bankruptcies nationwide.
- In contrast to Mecklenburg-Vorpommern, Bremen had a significantly higher insolvency rate of 120 per 10,000 companies in 2023, according to Creditreform data.
- In Frankfurt, Creditreform expects at least 18,100 companies to file for insolvency by the end of this year, representing a 23.5% increase from the previous year's number.
- Hantzsch warns that the number of company bankruptcies will continue to rise significantly in the coming months due to challenging economic circumstances, although the special effects from the pandemic have largely dissipated.
- The credit reference agency Creditreform, based in Bremen, plays a crucial role in monitoring the financial health of companies across Germany, providing a comprehensive credit report service to help banks and other financial institutions make informed lending decisions.
Source: www.stern.de
