13 percent less insolvencies

The number of business insolvencies has once more decreased. According to the Federal Statistical Office, in the first quarter 2008 the number of companies going bankrupt amounted to 7,147 which is 12.6% less than in the year 2007. The number of private insolvencies which had strongly increased in recent years also fell significantly by 13.2% to a total of 24,152.

The total amount of outstanding debt is said to amount to 7.3 billion Euros in the first quarter 2008 whereas this figure had been 8.3 billion in the first quarter last year. GERMAN