340 thousand German companies become insolvent since the turn of the millennium

By: trademagazin Date: 2009. 12. 30. 00:01

In Germany, 5 million employees were involved in corporate bankruptcies, since the turn of the millennium. According to Creditreform; about one out of five workers are involved.

Since the turn of the millennium 340 thousand companies become insolvent in Germany, leaving debts of around 250 billion euros. The majority of jobs were eliminated due to the liquidation and the conversion of the companies.
The largest bankruptcy of the last decade was the collapse of the Arcador commercial and tourism company – reports MTI.

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