More insolvencies in Saxony

In Saxony, the number of corporate insolvencies increased significantly in 2024 compared to the previous year. This was estimated by the credit agency Creditreform from Neuss in a report published by Deutsche Presse-Agentur. According to the report, the insolvency rate in Bavaria was 69 per 10,000 companies. In the previous year, this figure was 57.

Creditreform estimates the national average this year at 72 insolvencies per 10,000 companies. The city states of Berlin (123), Bremen (113) and Hamburg (99) have the highest insolvency rates in a state comparison. The sources of the analysis are a database of the company and the sales tax statistics.

Business location weakened

"With some delay, the crises of recent years are now having an impact on companies in the form of insolvencies," explained Patrik-Ludwig Hantzsch, Head of Economic Research at Creditreform. Economic policy standstill and declining innovative strength have weakened the business location. A further increase in cases is therefore expected in the coming year.

In absolute figures, Creditreform estimates 22,400 corporate insolvencies nationwide - an increase of 24.3 percent and the highest figure since 2015. "Despite the current high level of insolvencies, the figures are still below the level of 2009 and 2010, when more than 32,000 insolvencies were recorded," the report states.

The number of jobs threatened or lost is also increasing significantly. According to the figures, around 320,000 jobs are affected nationwide this year - considerably more than in 2023 (205,000).