Despite another increase in the number of major insolvencies in Germany, there does not (yet) appear to be any sign of a lasting shift in trend. The number of major insolvencies did tick back up to twenty-five in Q3 2018 following a drop in the number of filings during the preceding quarters, however insolvency levels in 2018 are still lower than last year over the same Q1 to Q3 period.
In the last quarter, it is worth highlighting the three largest insolvencies in terms of employee headcount, which affect more than 3,100 staff in total. The two major proceedings opened by SAM Automotive (1,800 employees) and Heer Medienholding GmbH (550 employees) were representative cases during the quarter. The period saw publishers of printed matter and automotive-part manufacturers each submitting four applications, reflecting the ongoing competitive strain and pressure to consolidate within these industries. Another 750 jobs are currently threatened at long-established leisure goods producer Kettler due to a conflict between the foundation and company management, which resulted in an insolvency filing.
You can find additional back issues in the FINANCE magazine insolvency report archive.