After a record year
How insolvencies affect the labor market
Difficult economic conditions, the consequences of the coronavirus crisis and the war in Ukraine - a dangerous cocktail that led to a record year of insolvencies in 2024. Krone+ took a look at why the many insolvencies have hardly had any impact on the workplace so far, but why problems will arise in the long term.
4158 companies filed for insolvency in 2024. This does not even include the 2,400 insolvency proceedings that were not even opened due to a lack of assets. A record year that can be attributed to several factors. "Part of the failure is due to the late admission of failure," says Karl-Heinz Götze, Head of KSV1870. "It doesn't matter whether these are corporate or personal insolvencies. The level of debt develops over several years. You can get over it for a while, but at some point you reach the point where it's no longer possible." This point was reached in 2024 for 4158 companies.
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