The number of corporate insolvencies in Saxony rose again last year. According to the State Statistical Office, 867 companies filed for insolvency. This is a significant increase on the previous year's figure of 747 insolvency proceedings filed. This continues the increase of the past four years. Last year, 6,387 employees were affected by insolvencies (2023: 5,486).
Particularly affected: Trade, transport and hospitality
Companies from the trade, transport and hospitality sectors were particularly affected, with a total of 275 insolvencies, as well as business services with 257 proceedings. The manufacturing industry also recorded a high number of insolvencies with 237 cases.
In contrast, public and private service providers (93 cases) and companies in agriculture, forestry and fishing (5) were hit much less frequently. A total of 6,387 employees were affected by the insolvencies.
IHK warns of further deterioration
"Both the Saxon economy and the German economy as a whole are entering their third year of recession in a row," said Fabian Magerl, Managing Director of the Leipzig Chamber of Industry and Commerce. The economic surveys paint a gloomy picture both regionally and nationwide.
"Companies are suffering from poor economic policy conditions, high labor and energy costs and a lack of planning security," he said. In addition, catch-up effects from the time of the coronavirus pandemic, during which many insolvencies were prevented by state aid, continue to have an impact.
"As we have learned from numerous discussions with companies, the repayment obligations for coronavirus aid are causing considerable difficulties for businesses," said Magerl. A further increase in insolvencies is to be expected in Saxony if the negative developments continue.
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