" The BDI stated: “In the past few weeks, the economic situation has deteriorated dramatically. The facts are undeniable. Germany is in a serious economic crisis. A comparison with other countries shows that this crisis is primarily homemade.”
“In terms of tax policy, the coalition lags behind what is necessary. In the future, every scope must be used to relieve companies in order for the tax burden to quickly become internationally competitive,” said Tanja Gönner, BDI’s general manager.
Sectors particularly affected include textile-related retail, the automotive supply industry, and healthcare. In the first quarter of 2025 alone, three German hospitals and three large textile companies filed for insolvency, alongside two automotive suppliers and two chemical companies.
In 2024, Germany saw a negative record of 87 major insolvencies, a 36 percent increase from the previous year. The combined turnover of these affected companies reached €17.4 billion, marking a 55 percent jump compared to 2023.
In an article for Tagesschau, reporters spoke to Jürgen Philippi, a publicly appointed auctioneer who also writes court reports for bankruptcy advisors. He has been working in the business for 30 years.
