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Financial News: German Business Insolvencies Decline In Q1

German Business Insolvencies Decline In Q1

06/12/2018 - 02:47:00 (RTTNews)

(RTTNews) - Germany's business insolvencies decreased in the three months ended March, Destatis reported Tuesday.

German local courts reported a decline of 3.0 percent in business insolvencies in the first quarter compared with same period of 2017. Insolvencies totaled 5,020.

The largest number of business insolvencies was reported in construction, at 902 cases. There were 883 bankruptcy filings in the commercial sector.

The local courts reported that, in relation to the business insolvency requests, the prospective debts owed to creditors amounted to roughly 7.8 billion euros in the first quarter of 2018.

In March, business insolvencies decreased 7.5 percent from a year ago and totaled 1,788.

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