Number of business insolvencies unchanged in January

The number of private consumer insolvencies amounted to 7,901 in January this year (-12.8% as compared to January 2008) and that of business insolvencies to 2,444 (-0.1%). In total 12,668 cases of insolvencies were reported to German courts which was 9.8% less than in January 2008.

There were unsettled claims by creditors to a total amount of 3.1 billion Euros in January this year. Even though business insolvencies account for only about 19 percent of all insolvencies, they account for 70% of all unsettled claims.

For the months to come experts expect a rise in business insolvencies. GERMAN