Analysts expect more bankruptcies in Germany in 2023

The number of companies in Germany going bankrupt will continue to grow this year and next, according to an analysis by corporate information service Crif.
More than 300,000 companies in Germany currently have financial problems, Crif found, on the basis of data from almost 3 million companies published on Tuesday.
The number of companies going bankrupt increased by 15.6% in November compared to March, it said.
"High energy costs, existing problems in supply chains and inflation are causing problems for many companies," Crif Germany managing director Frank Schlein said.
He also blamed "restraint among consumers, who have less money to spend due to high energy prices and inflation."
Crif said it expected the number of corporate bankruptcies in Germany to rise this year by 3.6% compared to last year.
"Currently we are expecting 14,500 corporate insolvencies in 2022," Schlein said.
In 2023, the figure was expected to increase again to 17,000, he said.