The number of consumer bankruptcies applied for in Hesse doubled in May 2021 compared to the same month last year.
This is a continuation of a trend that has been observable since February of this year, announced the State Statistical Office in Wiesbaden on Friday.
In May of this year, 429 consumer bankruptcy proceedings were filed, an increase of 99 percent compared to May 2020.
In the case of corporate insolvencies, on the other hand, the experts register falling numbers with a view to the same months of the previous year - both according to the final results for May 2021 and preliminary results for June 2021.
Less corporate bankruptcies
Due to the corona pandemic, the rules for companies in financial distress have recently been relaxed.
Among other things, the companies affected were exempted from the obligation to file for insolvency from March to September 2020, and under certain circumstances even until April 2021. In the meantime, the obligation to file for insolvency applies to companies again in full.
In May 2021, 94 Hessian companies filed for bankruptcy, according to the statistics. This number has fallen by 30 percent compared to the same period in the previous year. The courts opened 64 insolvency proceedings and dismissed 30 for lack of assets. According to statistics, the sum of the expected claims amounted to more than 24 million euros. According to preliminary results, 85 companies filed for bankruptcy in June of this year, compared with 117 in the same month last year.