NRW companies are particularly often at risk from bankruptcies

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The risk of insolvency for companies in North Rhine-Westphalia is still greater than in almost all other federal states.

With 67 insolvencies per 10,000 companies, the most populous federal state was once again one of the front runners in the Germany-wide bankruptcy ranking of the credit reporting agency Creditreform.

In a nationwide comparison, only Bremen and Berlin performed worse with 99 and 78 insolvencies per 10,000 companies, respectively, as Creditreform announced on Tuesday.

For comparison: the national average, the credit agency expects only 50 insolvencies per 10,000 companies.

For 2020 as a whole, Creditreform expects 4460 corporate insolvencies in North Rhine-Westphalia, 16.9 percent less than 2019. State aid and relief in insolvency law would have eased the situation nationwide in 2020, the experts explained the downward trend.

Corona crisis cushioned well

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Overall, Creditreform expects 19,780 bankruptcies for NRW this year, 21.7 percent less than in 2019. According to the experts, the number of consumer bankruptcies should decrease by 28.4 percent to 11,340 consumer bankruptcies, the number of other bankruptcies by 1.7 percent to 3980 lose weight.

Among other things, short-time work - and thus avoided unemployment - have contributed to the fact that "the corona crisis has so far been cushioned comparatively well for most consumers," writes the credit agency.

According to an extrapolation by Creditreform based on the November data, a total of 16,300 companies nationwide will take to the bankruptcy judge in 2020.

That would be 13.4 percent less than in 2019 and the lowest level since 1993 (15,150).

But economists are assuming a significant increase in bankruptcy figures in Germany next year.