Overview

• Germany recorded 1,626 corporate insolvencies in April 2025, the highest monthly total since July 2005.
• Insolvencies increased by 11% compared to March 2025 and 21% compared to April 2024, according to IWH data.
• The spike is attributed to economic pressures, including high energy costs, rising interest rates, and the end of pandemic-era support measures.
• An unusually high share of small insolvency cases contributed to the elevated figures, with normalization potentially leading to a short-term decline.
• Despite possible near-term dips, IWH forecasts that annual insolvency totals for 2025 will exceed last year’s figures.