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Germany's capital, Berlin, saw a 15.8 percent increase in insolvency filings against companies in the first quarter of 2023 compared to the same period last year. According to a press release from the Berlin-Brandenburg Statistics Office, a total of 403 insolvency proceedings were filed, an increase of 55 cases.
The total amount of probable claims in these proceedings also rose significantly by 60.4 percent to 247.6 million euros. These alarming figures cast a shadow over the economic situation of Berlin's business landscape.
Most of these insolvency proceedings were opened in the Charlottenburg district court, with 137 cases dismissed for lack of sufficient assets on the part of the debtors. The companies, from a variety of economic sectors, faced financial difficulties that made it difficult for them to meet their payment obligations.
Totally, three main economic sectors were particularly affected. The trade sector recorded 76 corporate insolvencies with creditor claims totaling 56.3 million euros. The construction sector and the professional, scientific and technical services sector reported 65 and 55 insolvencies, respectively. Here, unfulfilled payment obligations totaled 41.9 million euros and 30.7 million euros, respectively.
Looking at the distribution of insolvencies by district, Mitte and Charlottenburg-Wilmersdorf stood out. In these districts, 74 and 60 cases of corporate insolvency were registered, accompanied by projected claims of 49.5 million euros and 71.2 million euros, respectively. In contrast, the fewest proceedings were counted in Lichtenberg, where 13 insolvencies and prospective claims of 2.6 million euros were recorded.
The overall situation of corporate insolvencies in Berlin highlights the ongoing challenges facing the city's economy. While some sectors appear to be recovering better, others continue to be affected by financial shortages and economic uncertainty.
For more information and detailed statistical reports on insolvencies in Berlin, visit the website of the Berlin-Brandenburg Statistics Office at www.statistik-berlin-brandenburg.de/insolvenzen. Source for data: Office for Statistics Berlin-Brandenburg.