BÜRGEL Survey: Corporate Insolvencies 1st Quarter 2009
Increasing number of corporate insolvencies and varying developments in Germany
The financial and economic crisis is increasingly putting companies under pressure. In 2008 the number of corporate insolvencies already rose after a falling tendency since 2003. According to an analysis carried out by the financial information agency Bürgel, during the first quarter of 2009 a total of 6,765 companies filed for bankruptcy. In comparison with the 4th quarter of last year this means a rise by 11.3 percent.
With 1,335 cases the most company insolvencies could be observed in North Rhine-Westphalia during 1st quarter 2009, followed by Bavaria (794) and Lower Saxony (746). In relationship to the total number of companies per federal state, companies from Bremen went bankrupt most frequently, i.e. 32 per 10,000 registered companies, followed by Saxony-Anhalt (29) and Schleswig-Holstein (28). The least number of corporate insolvencies were reported from Hamburg and Bavaria, each with 13 cases per 10,000 companies. These were the results of the latest survey “Corporate Insolvencies 1st Quarter 2009“ carried out by Bürgel Wirtschaftsinformationen GmbH & Co. KG Hamburg.
The strongest increase in insolvencies was recorded in Saxony-Anhalt (+36.7 percent), Hesse (+28.6 percent) and Baden-Württemberg (+28.6 percent).
17.3 percent of all companies that went bankrupt during the 1st quarter 2009 were no more than 2 years old. But even companies more than 10-year-old are not protected against insolvency. In fact 26.6 percent of the 6,765 insolvent companies during 1st quarter 2009 had been on the market for a period of between 11 and 20 years.
“Many companies are simply lacking customers, their existing orders have been concluded. Further problems for companies are payment backlogs or failure of payment on the part of customers as well as the lack of equity capital. Because of this, over the next few months there will be an increasing danger of companies lacking in liquidity,” says Dr. Sellin, executive manager of the financial information agency Bürgel.
According to Bürgel’s estimation, in 2009 there will be a rise in corporate insolvencies to 34,000 cases. With this economic situation in mind, the experts from Bürgel advise a consistent examination of customers’ economic situation and credit-worthiness in order to secure one’s own corporate liquidity.
With 1,335 cases the most company insolvencies could be observed in North Rhine-Westphalia during 1st quarter 2009, followed by Bavaria (794) and Lower Saxony (746). In relationship to the total number of companies per federal state, companies from Bremen went bankrupt most frequently, i.e. 32 per 10,000 registered companies, followed by Saxony-Anhalt (29) and Schleswig-Holstein (28). The least number of corporate insolvencies were reported from Hamburg and Bavaria, each with 13 cases per 10,000 companies. These were the results of the latest survey “Corporate Insolvencies 1st Quarter 2009“ carried out by Bürgel Wirtschaftsinformationen GmbH & Co. KG Hamburg.
The strongest increase in insolvencies was recorded in Saxony-Anhalt (+36.7 percent), Hesse (+28.6 percent) and Baden-Württemberg (+28.6 percent).
17.3 percent of all companies that went bankrupt during the 1st quarter 2009 were no more than 2 years old. But even companies more than 10-year-old are not protected against insolvency. In fact 26.6 percent of the 6,765 insolvent companies during 1st quarter 2009 had been on the market for a period of between 11 and 20 years.
“Many companies are simply lacking customers, their existing orders have been concluded. Further problems for companies are payment backlogs or failure of payment on the part of customers as well as the lack of equity capital. Because of this, over the next few months there will be an increasing danger of companies lacking in liquidity,” says Dr. Sellin, executive manager of the financial information agency Bürgel.
According to Bürgel’s estimation, in 2009 there will be a rise in corporate insolvencies to 34,000 cases. With this economic situation in mind, the experts from Bürgel advise a consistent examination of customers’ economic situation and credit-worthiness in order to secure one’s own corporate liquidity.
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| 27.05.09 |
| BÜRGEL Survey: Corporate Insolvencies 1st Quarter 2009 |
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