According to Creditreform's CEO, Herbert Eberhard, 2018 marks the highest amount of business failures in a year since 2012.
In 2012, 1,033 businesses declared their bankrupt status.
With a total of 1,195 businesses declared bankrupt, 2018 has overtaken 2012 as the year with the highest number of bankruptcies. Compared to 2017, the number has risen by 27.81%, as only 935 businesses declared bankruptcy in the previous year.
The trend appears to be the opposite of German business trends.
In Germany, 2018 marks the year with the fewest bankruptcies since 1994 (19,990 in 2018).
In 2010 already, there was a disturbing development of a 31% rise in banktruptcies compared to 2009.
Creditreform noted that the majority of companies, 78% to exact, becoming bankrupt were over five years old. This number has risen as well, as these companies made up 68% of bankruptcies in 2017, and only 40 to 45% at the beginning of the millennium.
A further notable quality is that companies with fewer than three employees were mainly affected.
