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Company insolvencies down by 8.7 percent in August

In August this year the crisis on financial markets did not yet affect the financial situation of businesses in Germany. The number of insolvencies was thus quite small: there were in total 12,442 insolvencies, 2333 of which business insolvencies and 7,838 consumer insolvencies. As compared to August 2007 this corresponded to a decrease by 13.0% with business insolvencies being down by 8.7% and private ones by 15.0%.

There were unsettled claims to the amount of 2.2 billion Euros in August 2008 as compared to 2.5 billion in August last year.

In the period from January to August 2008 the number of private insolvencies amounted to 65,223 (-10.2%) and that of businesses to 19,743 (-6.4%). In total, courts registered 103,786 insolvencies which were 9.2% less than in the same period in 2007. GERMAN