{"id":339346,"date":"2024-08-12T16:51:18","date_gmt":"2024-08-12T14:51:18","guid":{"rendered":"https:\/\/climatescience.press\/?p=339346"},"modified":"2024-08-12T16:51:20","modified_gmt":"2024-08-12T14:51:20","slug":"german-green-raw-deal-first-half-2024-insolvencies-skyrocket-30-near-10-year-high","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=339346","title":{"rendered":"German Green Raw Deal: First Half 2024 Insolvencies Skyrocket 30%, Near 10-Year High"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"482\" data-attachment-id=\"339350\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=339350\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?fit=2122%2C1413&amp;ssl=1\" data-orig-size=\"2122,1413\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;Getty Images\/iStockphoto&quot;,&quot;camera&quot;:&quot;ILCE-5000&quot;,&quot;caption&quot;:&quot;Stressed business man covering face with hands in office. Working over time or too much. Problem with failing business or confusion with crisis. Entrepreneur in bankruptcy.&quot;,&quot;created_timestamp&quot;:&quot;1505226148&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;50&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.02&quot;,&quot;title&quot;:&quot;Stressed business man covering face with hands in office. Working over time or too much. Problem with failing business or confusion with crisis. Entrepreneur in bankruptcy. Burnout and overwork.&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Stressed business man covering face with hands in office. Working over time or too much. Problem with failing business or confusion with crisis. Entrepreneur in bankruptcy. Burnout and overwork.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Stressed business man covering face with hands in office. Working over time or too much. Problem with failing business or confusion with crisis. Entrepreneur in bankruptcy.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?fit=723%2C482&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?resize=723%2C482&#038;ssl=1\" alt=\"\" class=\"wp-image-339350\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?resize=1024%2C682&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?resize=768%2C511&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?resize=1536%2C1023&amp;ssl=1 1536w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?resize=2048%2C1364&amp;ssl=1 2048w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?resize=1200%2C799&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?w=1446&amp;ssl=1 1446w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><figcaption class=\"wp-element-caption\">Stressed business man covering face with hands in office. Working over time or too much. Problem with failing business or confusion with crisis. Entrepreneur in bankruptcy.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"https:\/\/notrickszone.com\/2024\/08\/11\/german-green-raw-deal-first-half-2024-insolvencies-skyrocket-30-near-10-year-high\/\">NoTricksZone<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>By\u00a0<a href=\"https:\/\/notrickszone.com\/author\/admin\/\">P Gosselin<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Germany\u2019s\u00a0<a href=\"https:\/\/www.creditreform.de\/aktuelles-wissen\/pressemeldungen-fachbeitraege\/news-details\/show\/insolvenzen-in-deutschland-1-halbjahr-2024\">Creditreform registered 11,000 corporate insolvencies<\/a>\u00a0in the first half of 2024. This is an increase of almost 30 percent compared to the same period last year (8,470 cases) and marks the highest level for almost ten years.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The number of consumer insolvencies has also risen again.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The weak economic development and the persistently high burdens have caused insolvency figures in Germany to rise further.&nbsp;\u201cInsolvencies in Germany have reached their highest level for almost ten years. In the first half of 2024, companies are continuing to battle against the effects of the recession in 2023, ongoing crises and the weak economic development this year,\u201d says Patrik-Ludwig Hantzsch, Head of Creditreform Economic Research. \u201cTaken together, all of this is breaking the back of many companies.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>High inflation, interest rates<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The insolvency figures for consumers also rose. At 35,400 consumer insolvencies, 6.7 percent more cases were registered than in the same period last year (33,180 cases).In addition to inflation and the turnaround in interest rates, the amendment to consumer insolvency law at the end of 2020, which enables private individuals to discharge residual debt more quickly and thus makes the process more interesting for debtors, is likely to be responsible for the current increase.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Creditreform Economic Research study also shows an increase in bad debt losses and the number of employees affected in the first half of 2024. This is due to the significant increase in the number of insolvencies among medium-sized and large companies.The number of cases among large companies (more than 250 employees) has doubled compared to the previous year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Prominent major insolvencies in recent months were GALERIA Karstadt Kaufhof and FTI-Touristik. \u201cWe can see that it is not the sheer number of insolvencies that is decisive. The impact of a company going bankrupt is significantly greater than, for example, during the global financial crisis in 2009,\u201d explains the Creditreform spokesperson.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the first half of 2024, an estimated 133,000 employees were affected by insolvency (previous year: 125,000). \u201cThe focus of insolvency law on restructuring and preserving companies and jobs is primarily aimed at larger companies, which could explain the increase in the number of cases in this segment in recent years,\u201d explains Hantzsch.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Germany\u2019s Creditreform registered 11,000 corporate insolvencies in the first half of 2024. This is an increase of almost 30 percent compared to the same period last year (8,470 cases) and marks the highest level for almost ten years.<\/p>\n","protected":false},"author":121246920,"featured_media":339350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691830112,691830114,691830113,691818051,691830111,691830109],"class_list":{"0":"post-339346","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-creditreform-economic-research","9":"tag-fti-touristik","10":"tag-galeria-karstadt-kaufhof","11":"tag-germany","12":"tag-high-inflation","13":"tag-insolvencies","15":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0GettyImages-852477948.jpg?fit=2122%2C1413&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1qhk","jetpack-related-posts":[{"id":426894,"url":"https:\/\/climatescience.press\/?p=426894","url_meta":{"origin":339346,"position":0},"title":"Negative Record in Germany: 94 Large Companies Bankrupt in 2025","author":"uwe.roland.gross","date":"18\/02\/2026","format":false,"excerpt":"In 2025, Germany recorded a negative record with 94 such large companies filing for insolvency. 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It\u2019s the Great Green Energies economic debacle","rel":"","context":"In \"economic crisis\"","block_context":{"text":"economic crisis","link":"https:\/\/climatescience.press\/?tag=economic-crisis"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/0GettyImages-852477948.jpg?fit=1200%2C799&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/0GettyImages-852477948.jpg?fit=1200%2C799&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/0GettyImages-852477948.jpg?fit=1200%2C799&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/0GettyImages-852477948.jpg?fit=1200%2C799&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/0GettyImages-852477948.jpg?fit=1200%2C799&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/339346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=339346"}],"version-history":[{"count":5,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/339346\/revisions"}],"predecessor-version":[{"id":339352,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/339346\/revisions\/339352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/339350"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=339346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=339346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=339346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}