1.2 percent more business insolvencies in February

The total number of insolvencies in February 2009 fell by 5.1% to 12,120 as compared to February last year. This positive development, however, is due to a drop by 7.6% to 7,450 cases in private consumer insolvencies. The number of insolvencies by self-employed people fell by 3.8% to 1,944. The number of business insolvencies, however, increased by 1.2% to 2,394 cases.

Unsettled claims by creditors amounted to 2.5 billion Euros in February this year in comparison with 2.6 billion Euros in the respective month last year. GERMAN