The number of company bankruptcies in Bavaria rose sharply in the first half of 2023. As the State Office for Statistics in Fürth announced on Monday, around 1,200 companies filed for bankruptcy in the first six months of the year – an increase of around 23 percent compared to the same period last year. The number of corporate insolvencies thus reached roughly the pre-Corona level.
During the corona pandemic, the federal government supported the economy with financial aid and temporarily suspended the obligation for over-indebted companies to file for insolvency in order to prevent a wave of bankruptcies. As a result, the number of company bankruptcies during the pandemic was lower than usual. The number of consumer bankruptcies also fell slightly compared to the same period last year, falling by one and a half percent.
On the other hand, the number of insolvencies in retail has risen noticeably: almost 200 procedures were reported in the past six months, which corresponds to an increase of around 50 percent compared to the same period last year. The Munich fashion chain Hallhuber and the organic market chain Basic AG were among the better-known insolvencies in Bavaria in the first half of the year.