More corporate insolvencies in NRW
The number of corporate insolvencies in North Rhine-Westphalia in September was a good 19 percent higher than in the same month last year. Compared to the previous month of August, however, it fell by almost eleven percent, the State Statistical Office announced in Düsseldorf on Tuesday.
For September 2023, 398 corporate insolvencies were reported by the local courts. In September 2022, there were 334 proceedings. In the previous month of August 2023, there were 446 proceedings.
The number of employees affected by corporate insolvency in September 2023 was 41.9 percent higher than in the same month of the previous year at 2560. The number also rose by a good five percent compared to the previous month of August.
The number of consumer insolvency proceedings rose by 18.3 percent compared to the same month last year to 1420 proceedings. Compared to the previous month, however, there was a fall of almost eleven percent.
The rising number of corporate insolvencies in NRW could potentially have a significant impact on the overall economic situation of the company operating within this region. The increased insolvencies reported in September 2023 indicate a challenging business environment.
Source: www.dpa.com
