Economic situation - Increase in company bankruptcies in Saxony-Anhalt in 2023
The energy crisis, in some cases exploding material costs and significantly higher interest rates are driving more and more companies into bankruptcy, including in Saxony-Anhalt. According to Creditreform estimates, the number of insolvencies per 10,000 companies has risen to 57 in the current year. In the previous year, the figure was 51, according to data published by the credit agency on Monday.
However, the increase in comparison is less significant than in other federal states. According to the data, the rate in Bremen is 120 (previous year: 72) and in Berlin 103 (previous year: 83). Thuringia has the lowest rate at 40 (previous year: 35). The credit agency did not provide detailed reasons for the regional insolvency figures. "Regional industry structures and different age structures of companies are likely to be partly responsible for these differences," it simply said.
Nationwide, 18,100 companies are likely to have filed for insolvency by the end of the year. That would be 23.5 percent more than last year. A similarly high figure was last seen in 2019 (18,830 cases). The nationwide insolvency rate is therefore 60, compared to 48 in the previous year. "More and more companies are collapsing under the constant pressure of high energy prices and the interest rate turnaround," explained Patrik-Ludwig Hantzsch, Head of Creditreform Economic Research.
Like other experts, Hantzsch also expects a further increase in company bankruptcies: "The number of insolvencies will continue to rise significantly in the coming months in these difficult economic conditions." 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 allowed temporary exemptions in insolvency law.
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- More company bankruptcies in Saxony in 2023
- Despite the rising number of company bankruptcies in Saxony-Anhalt, other federal states like Bremen and Berlin are experiencing even higher rates, reaching 120 and 103 insolvencies per 10,000 companies respectively.
- The energy crisis, coupled with increasing material costs and interest rates, has led to numerous company bankruptcies in Berlin, causing a significant jump from 83 cases in the previous year.
- The state of Saxony-Anhalt, similar to Magdeburg and Bremen, has seen an increase in company bankruptcies in 2023, contributing to the nationwide trend of insolvencies.
- The economic situation in Saxony-Anhalt, Saxony, and Saxony-Anhalt, has resulted in several companies in these regions filing for bankruptcy or heading towards insolvency due to financial struggles.
- Economic experts, like Patrik-Ludwig Hantzsch, predict that the number of company bankruptcies will continue to rise in the coming months, potentially leading to a wave of insolvencies in these challenging economic conditions.
Source: www.stern.de
