German firms threaten acute financial problems. According to new estimates, they have registered because of numerous requests from bankruptcy 75 billion euros, to collect debts – this is a record, well three times as much as in 2008. Many SMEs may now even come Zahlungsnot.
Hamburg – bankrupt Republic of Germany: During the economic crisis sign more and more corporate defaults – and then draw other companies into the abyss. Experts now warn of an acute financial difficulties in many businesses.
According to recent calculations of credit insurer Euler Hermes reach the court claims filed by businesses against other businesses 2009 a record volume of 75 billion euros. By comparison, 2008, she did not dip below 22 billion euros.
"Cause for this increase are mainly the bankruptcies of large companies that would like to book in recent months," said Euler Hermes Chief Economist Romeo Grill (number of bankruptcies in 2009, see photo gallery below).
SMEs are particularly affected, which may bring the huge financial debts in great difficulties to the inability to pay. This year, the credit insurer expects a rise in bankruptcies to about 34,000, 15 percent more than last year. For 2010 is expected to further rise in bankruptcies by about nine percent to nearly 37,000.
An increased risk of bankruptcy, according to BBQ especially for the engineering, steel industry and the IT field, as well as chemical and textile companies. A difficult year he would be after the expiry of the scrapping and the approximately 1,500 companies in the automotive supplier industry with approximately 330,000 employees and the car dealers before. However, there are sectors that are likely to survive next year’s relatively good. These include mainly food manufacturers, companies in the environmental industry and the construction sector.
One reason for the bankruptcies is the lack of liquidity due to the general crisis. "The banks have tightened credit conditions, and provides for the company for a tense situation. Also, the poor payment practices often pose problems," says Grill. In addition, management errors such as incorrect business strategies and focusing on only a few customers would contribute significantly to the failure of many companies.
In a study of credit questioned on insolvency grounds for the rise in insolvencies. Most frequently mentioned was the lack of or the postponement or cancellation of orders. In addition, the experts registered a domino effect through bankruptcy to outsourcers and suppliers. Particularly prone to crises are companies that are bought by financial investors, and then burdened with high debt.