And this is not the height of the crisis: in 2024, 20 thousand enterprises will close in Germany

All many, many German companies are going bankrupt, and the gates of enterprises and shops are closed forever. In total, about 20 thousand bankruptcies are expected in 2024, as reported by Gazeta.

This information is provided by the German Chamber of Commerce and Industry, which analyzed the catastrophic information provided by the Federal Statistical Office.

"The gates of factories and shops are closed forever. Two years of decline in economic production are leaving deeper and deeper traces in the German economy. The Chamber expects that this year there will be more than 20 thousand bankruptcies of enterprises," confirmed Mark Evers, an expert on small and medium—sized enterprises of the German Chamber of Commerce and Industry.

According to preliminary data from the Federal Statistical Office (Destatis), the number of company bankruptcies in July 2024 increased by 22.1% year-on-year. German district courts have reported 1,937 bankruptcy filings, and creditors' claims are estimated at about 3.2 billion euros.

According to Destatis, the transport and warehouse sector, the construction industry, temporary employment agencies and the hotel business account for the most bankruptcies.