Search

SMALL AND MEDIUM BUSINESSES IN GERMANY ON THE VERGE OF BANKRUPTCY DUE TO FUEL PRICES

... the work of companies in Germany. However, the problem does not only concern gas stations and the transport sector. According to local experts, existing taxes on electricity and the protracted reform of the public transport fare system could lead to bankruptcy of significant number of entrepreneurs. According to the NEOPresse media, gasoline prices have already exceeded € 2 per liter at gas stations in Germany. The cost of gas also doubled. This raises concerns among businessmen who fear corporate bankruptcies. The media quotes the words of Markus Jerger, head of the Federal Association of Medium Businesses (Bundesverband mittelständische Wirtschaft,...

Germany’s Frankfurt-Hahn airport files for bankruptcy

Frankfurt-Hahn Airport, located in western Germany, has filed for bankruptcy. Officially, this happened due to a pandemic, but a decrease in passenger traffic in the air harbor was noted even before 2020. The history of the airport began with its use as an air harbor for the US military, but after the end of the ...

GERRY WEBER RETAIL CHAIN DECLARED BANKRUPTCY

A chain of clothing stores in Germany announced the beginning of bankruptcy proceedings. The firm, which managed more than 170 outlets in the country, announced plans to close 122 stores and lay off 350 employees by the fall of 2023. The reason for the financial collapse in the company is called the consequences ...

Germany faces a wave of bankruptcies due to the refusal of Russian gas

The refusal of Russian gas could lead to a sharp increase in the number of bankruptcies in Germany. This will mostly affect small and medium-sized enterprises that do not have long-term contracts for the supply of natural gas. The attention to the problem was drawn by the German media Handelsblatt . The published material contains data ...

Two German shipyards filed for bankruptcy

On Monday, Two German shipyards - MV Werften and Lloyd Werft, owned by the Hong Kong company Genting, filed for bankruptcy. The information became known after the parent company, which also owns major cruise operators (Dream Cruises, Crystal Cruises, Star Cruises) and operates the resort casino Resorts World Manila in the Philippines, suspended trading in its ...

BAVARIAN MANUFACTURER OF UNMANNED AERIAL VEHICLES FILED FOR BANKRUPTCY

Germany company EMT, which was engaged in the production of military unmanned aerial vehicles for the German Armed Forces, is ‘dismantled’ piece by piece by its creditors. The company has already started the bankruptcy proceedings and now the creditors must distribute the financial assets of the company among themselves. Experts say that the reason for the ruin of the company that worked for the German Armed Forces was the failure to sign a contract with ...

91% OF GERMAN BREWERS ARE CONCERNED ABOUT BANKRUPTCY

... authorities since November 2020, which has been extended until March 7. In general, beer sales fell to 70%, say DBB’s representatives. According to the head of the association, Holger Eichele, 20-30% decrease in annual turnover carries the threat of bankruptcy. Given that the borders of Germany and other EU countries have remained closed for a long time, the supply of German beer abroad was reduced by 13%. Experts emphasize that the country's brewing industry mainly consists of small and medium-sized businesses, for which revenues depend ...

GERMAN BUSINESS SHOWS RECORDS IN THE NUMBER OF BANKRUPTCIES

The number of German companies that have reported bankruptcy is growing rapidly, according to the publication Merlin 24/7. According to the German statistical Office, in March 2024, the number of legal entities that reported their insolvency increased by 12.3%, compared with similar data for March 2023....

GERMAN TUNING STUDIO CARLSSON DECLARED BANKRUPT

... the company out of the financial impasse. In 2015, the organization went bankrupt. The tuning studio was acquired by Sambo Motors, the largest supplier of components for Hyundai Motor Group. Carlsson's main office was moved to Saarlouis, the center of Germany's steel industry district. It was decided to sell the main business, and make the activities of the Carlsson Peninsula subsidiary brand, engaged in tuning Hyundai and Kia car brands, a priority. The company continued to service Mercedes-Benz cars,...

German manufacturer of condoms for Russians went bankrupt

... The company, founded in 1987, annually produced up to 200 million contraceptives. Moreover, Russia was one of the main export destinations. Deliveries to it reached 25% of the total sales volume. Experts suggest that this factor could have caused the bankruptcy, since the sanctions imposed by the EU countries against Russia's actions on the territory of Ukraine made deliveries impossible. As a result, CPR became actually the first company in Germany to go bankrupt due to the EU sanctions. However, not only this factor could become decisive for the financial condition of the company. A few years ago, the company was already on the verge of bankruptcy, but then the problem was solved. Before ...

Sorted by relevance | Sort by date