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Business bankruptcy up in Germany

Business bankruptcy up in Germany article image
The number of businesses filing for bankruptcy in Germany has risen almost 15 percent in the first two quarters of this year, by annual comparison. The German Federal Statistical Office reported that more than 16,000 companies filed for bankruptcy between January and June this year, a rise of 14.8 percent compared with the same period in 2008. June showed the highest number of corporate bankruptcies, 2,788, almost 16 percent up on the same period last year. The figures exclude data from the state of North Rhine-Westphalia, which reported some 2007 bankruptcies in the first quarter of 2008. The export-exposed German economy showed some modest growth in the latest figures from the second quarter.

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