July 6, 2020 / 5:35 AM / a month ago

One fifth of German firms fear for their survival amid pandemic: Ifo

The skyline of the banking district is pictured in Frankfurt, October 21, 2014. The European Central Bank will release the results of Europe's most comprehensive review of its banks' health on October 26. The outcome will give the clearest picture yet on the state of the European banking sector, which was pummeled during the financial crisis. Picture was taken October 21, 2014. REUTERS/Ralph Orlowski (GERMANY - Tags: CITYSCAPE BUSINESS)

BERLIN (Reuters) - Around one fifth of German companies (21%) believe their survival is threatened by the coronavirus crisis, Germany’s Ifo institute said on Monday, with travel agents, hotels and restaurants particularly concerned.

“We could see a wave of insolvencies in the coming months,” Ifo researcher Stefan Sauer said.

Reporting by Michelle Martin; Editing by Scot W. Stevenson

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