Overview

• Insolvency filings in Germany rose by 5.7% in March 2025 compared to the same month last year, marking a slowdown from previous double-digit increases.
• The March data represents the first single-digit growth rate since June 2024, when filings increased by 6.3%.
• January 2025 saw 1,830 insolvency filings, a 12.8% year-over-year increase, with creditor claims totaling €5.3 billion, up from €3.5 billion in January 2024.
• Small businesses are particularly affected, with many reporting severe liquidity shortages, according to DIHK's Volker Treier, who warns the insolvency wave could intensify further.
• Historical comparisons show that while insolvencies remain high, they are still below peaks seen during the 2009 financial crisis and 2015 highs.