More companies file for bankruptcy in the first five months

In the first five months of the year, the number of company bankruptcies rose slightly - especially in the advertising and market research sectors. At the same time, slightly more new companies were founded.

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A total of 3605 companies filed for bankruptcy in January-May, an increase of 2.3 percent year-on-year, reported the credit agency Crif on Friday with. The number of corporate bankruptcies thus remains at a comparatively high level. In the first half of the previous year, bankruptcies rose by more than a quarter, partly as a result of the Corona crisis.

The greatest increase in the number of bankruptcies was in advertising and market research (+52%), gardening and landscaping (+26%) and retail trade (+19%). In total, the construction sector saw by far the most bankruptcies, with 546. This was followed by the catering industry (349) and wholesale trade (246).

At the same time, the number of company formations rose by 3.1 percent in the first five months of the year. A total of 21,601 companies were newly entered in the commercial register. Most of them are located in the retail trade (2066), construction (1729) and management consulting (1701) sectors. As the number of company deletions increased by more than 7 percent, the net number of companies declined by 2.3 percent. (SDA)

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