Germany’s Destatis: Govt’s aid measures for companies amid coronavirus to prevent a rapid hike in insolvency applications

Government's aid measures for companies during coronavirus pandemic are expected to prevent a rapid hike in insolvency applications, said Germany's Federal Statistical Office (Destatis) in its latest report on Monday.

Key takeaways

German business insolvency -3.2% YoY in February.

Number of regular insolvency proceedings in Germany opened in March 2020 increased by 1.6% YoY.

Number of insolvency proceedings in Germany opened in April 2020 fell by 13.4% YoY.

more to come ...