May 11, 2020 / 6:40 AM / 15 days ago

German insolvency applications down 13.4% in April - statistic office

BERLIN (Reuters) - The number of insolvency procedures opened in Germany in April was down 13.4% year-on-year in the midst of the coronavirus crisis, the federal statistics office said on Monday.

Aid measures released by the Berlin government for companies are expected to prevent a rapid increase in insolvency applications, it said.

But there could be delays in the statistical process as authorities were only partially staffed, it noted. This means some current problems at companies could show up in the numbers only later.

Insolvency bids in March were up 1.6% and in February down 3.2% year-on-year.

Reporting by Riham Alkousaa, writing by Vera Eckert, editing by Maria Sheahan

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