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Sunday, June 13, 2021

More large German companies insolvent in 2019 | DW

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A 42% increase of German companies declaring insolvency took place throughout 2019 compared to the prior year. There were 27 companies with over $55 million in unpayable debt, compared to 19 cases in 2018. Numerous sectors have been hit, with the majority falling into construction or retail. Big name companies that filed this year include the airline Germania, sports equipment manufacturer Kettler, and two retailers Gerry Weber and Beate Uhse. In addition to this increasing rate of insolvency, 2020 is expected to have weak growth in the German economy.

Source: https://www.dw.com

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