Economy & Politics

Number of bankruptcies declining despite Corona

Despite the virus: There were fewer bankruptcies in 2020 than last year. Photo: dpa / Frank Rumpenhorst

In a comparison of the 16 federal states, Baden-Württemberg has the third fewest bankruptcies in 2020. Economists point out that this could look very different in the coming year.

Neuss / Stuttgart – Fewer company bankruptcies despite the corona crisis: Regardless of the economic turmoil caused by the pandemic, according to a study, the number of corporate bankruptcies in the southwest is falling this year. According to calculations by the credit reporting agency Creditreform, there are 38 cases of insolvency per 10,000 companies in Baden-Württemberg. In the previous year it was 41.

Thuringia has the lowest rate

In a comparison of the 16 federal states, Baden-Württemberg has the third lowest value. According to the data published by the credit agency on Tuesday, the highest number of bankruptcies per 10,000 companies are in Bremen (98 cases), with Berlin (78) having the second highest value. As in the previous year, Thuringia has the lowest insolvency rate (30), followed by Brandenburg (36).

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According to an extrapolation by Creditreform based on the November data, a total of 16,300 companies will take to the bankruptcy judge nationwide in 2020 as a whole. That would be 13.4 percent less than in 2019 and it would be the lowest level since 1993 (15 150). State aid and relief in insolvency law have eased the situation in many places in the current year, but economists are expecting a significant increase in the number of bankruptcies in 2021.

The number of bankruptcies is recorded by several providers. The Federal Statistical Office is expected to publish official figures for 2020 as a whole in March.

Current reports, background information worth knowing and useful tips – in our dossier we bundle all articles on Corona.


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