More Bankruptcies Again: From Third to Last Nationwide

As of 10:51 a.m| Reading time: 2 minutes

DrSeveral overlapping crises have caused Hamburg to drop to the third and last place in the national comparison of corporate bankruptcies. Only the other two states have had worse this year Berlin And the Bremen Credit agency Creditreform also announced on Tuesday. Accordingly, this year came Hamburg For every 10,000 firms there were 62 bankruptcies, in Berlin there were 86 and in Bremen 82. According to the information provided, Hamburg was on par with Saarland with 57 bankruptcies per 10,000 firms behind Bremen, Berlin and North Rhine-Westphalia. The free state of Bavaria had the fewest bankruptcies this year with 35 bankruptcies per 10,000 firms, and last year it was Brandenburg with 29.

For the first time since the global financial crisis in 2009, Creditreform has noted an increase in corporate bankruptcies nationwide. “Continuous inflation, rising interest rates and energy costs, and an increasingly difficult competitive situation are affecting the core of many companies,” said Patrick Ludwig Hantzisch, Head of Economic Research at Creditreform. There have been a total of 14,700 corporate bankruptcies this year — 570 or 4.0 percent more than in 2021. An estimated 175,000 employees have been directly affected this year — 34,000 more than in 2021.

And according to the information, major bankruptcies in particular have increased – above all the recent bankruptcy of the European supermarket group Galeria Karstadt Kaufhof with about 17,000 employees. But two large Hamburg companies also had to file for bankruptcy, first the shoe retailer Görtz with 1,800 employees, and second the retail company OfficeCentre GmbH with the German retail chain Staples with 900 employees. In the northeast, medium voltage shipyards were added with 2,300 employees.