Wednesday 11 August 2010, 15:08 clock
Berlin (Reuters) - Despite the strong upturn is increasing again the number of bankruptcies in Germany.
In May 2692 manufacturing firms had to take a trip to the bankruptcy judge - 1.1 percent more than a year ago, the Federal Statistics Office said on Wednesday. In April, it was the first time since early 2009, a decline given that the 6.2 percent turned out too well. Experts say a turnaround is not yet in sight, even when the consumer insolvencies is expected to increase.
"Particularly small and medium-sized businesses, especially in services and trade, are often still with their backs to the wall," warned the chairman of the Association of Insolvency Germany (VID), Siegfried Beck. "Compared with these manufacturing firms, the banks in lending are still extremely cautious." Relaxes the other hand, has the situation for large companies and the auto industry who profit from the export boom. In the first five months the number of insolvent companies was up 2.7 percent to 13,716. The credit agency Creditreform expects this year with up to 36,000 insolvencies. In the crisis year 2009, there had been an increase of almost twelve percent to about 33,000.
ALSO CLEARLY MORE CONSUMERS TO SIGN INSOLVENCY
Despite the fall in unemployment, the consumer insolvencies continue to rise significantly. In May there was an increase by 14.1 percent to 8552nd This year, it could, according to forecasts by Creditreform give up to 120,000 (2009: 100 900) cases, a record high. From January to May was 44,567 to 11.8 percent over the same period last year. apply a good six million German as indebted as they operate with the current revenue their debts can not.
The estimated outstanding claims of creditors figured the courts in May to 3.5 billion euros. A year ago they were almost twice as high, because at that time were many large manufacturing firms with high debt bankruptcy. Since the beginning of the reported known companies such as nursing home operators Hansa, the cable operator Primacom, the discounters MacGeiz group, the mobile home manufacturer Westfalia and the advertising agency Springer & Jacoby in bankruptcy. 2009 it had taken include the once largest mail-order source, the porcelain manufacturer Rosenthal and the underwear manufacturing firm Schiesser.
