6.6 percent less company insolvencies

The number of company insolvencies further dropped in January. According to the Federal Statistical Office, compared with January 2006 the decline amounted to as much as 6.6%. Expressed in absolute figures there were 2416 company insolvencies in January 2007. On the other hand, in the same period the figure of private insolvencies increased by 27.5% amounting to 8961 cases.

Adding other kinds of private insolvencies the total number of insolvencies was 14.082 cases in January 2007 which is a 15.2% increase compared to January 2006. Claims by creditors amounted to 3.4 billion Euros in January 2007 which is 24% more than in January 2006. Almost 70% of these claims concern companies. GERMAN