Requests for Normal Business Insolvency Decrease by 14.1% in Germany in April 2023, Following Two Months of Increase

Germany’s number of requests for normal business insolvency decreased by 14.1% in April 2023, compared to the previous month, according to the Federal Statistical Office (Destatis). The statistics also showed that business insolvencies in February 2023 increased by 20.3% compared to February 2022, while consumer insolvencies in the same month decreased by 4.0%. It’s important to note that the insolvency procedures are included in the statistics only after the first decision has been taken by an insolvency court and the request for insolvency was filed approximately three months earlier in many cases. Moreover, insolvency statistics include only business closures that occur in the course of insolvency proceedings, not those caused by other reasons or take place before businesses face financial difficulties.