German bankruptcies up by 3.4 pct in 2010: statistics

10th March 2011, Comments 0 comments

The number of German bankruptcies rose 3.4 percent last year, official figures showed Thursday, with personal bankruptcies on the rise while companies fared better.

A total of 168,458 bankruptcies were recorded in the biggest European economy, the Destatis office said in a statement.

Company bankruptcies were 2.1 lower owing to the stronger economic climate but those of "other debtors" climbed 4.8 percent.

Among that group, consumers showed the highest rate at 7.6 percent.

The total amount of funds involved, however, fell sharply to 39 billion euros ($54 billion) from 85 billion euros in 2009, a record year as the economy suffered its worst post-War recession, Destatis said.

© 2011 AFP

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