The number of company bankruptcies in Germany rose last year for the first time since the global financial crisis of 2009.

The district courts reported 14,590 corporate insolvencies, as the Federal Statistical Office announced on Friday. That was 4.3 percent more than in the previous year.

However, from March 2020 to May 2021, the obligation to file for insolvency was suspended in whole or in part for over-indebted companies. This should prevent a wave of bankruptcies in the corona pandemic.

Experts had expected an increase in company failures after these exceptions expired.

In February of the current year, the number of company bankruptcies rose after falling at the beginning of the year. According to provisional data from the statisticians, the number of regular insolvencies applied for increased by 10.8 percent compared to the previous month. (QNA)

Source: Qatar News Agency