21,518 companies filed for insolvency in Germany in 2016 — fewer than ever since the introduction of the Insolvency Code in 1999.
The good economic situation in Germany is also reflected in the statistics: the number of corporate bankruptcies fell by a full 6.9% compared to 2015. The previous year also marked a historic low.
There were also fewer consumer bankruptcies, i.e., insolvent private individuals, last year: 77,238 consumers were over-indebted and had to initiate insolvency proceedings. This is 3.6 million fewer than in 2015.
Last increase in bankruptcies after the subprime crisis
Bankruptcy statistics for both companies and consumers recently rose as a result of the subprime crisis after 2007: The number of insolvent companies jumped by 11.6 million in 2009 compared to 2008. Many consumers were then hit hard the following year: in 2010, 7.6 million more private individuals were unable to service their debts than in the previous year.
The Insolvency Code has regulated the settlement between insolvent debtors and creditors—whether companies, other organizations, or natural persons—since 1999. Accordingly, data on the annual number of insolvencies has only been available since 1999.
