In February, the number of insolvencies among both private individuals and corporate entities rose in Germany. According to the Leibniz Institute for Economic Research in Halle (IWH), 1,466 insolvencies were recorded, a 5 % increase over January and a 2 % rise compared with February 2025. Relative to the pre‑COVID era, the figure is 58 % higher.
Large employers were especially hit, leading to considerable income and wage losses. In February, the largest ten percent of insolvent companies affected more than 23,000 jobs-a 38 % increase over the previous month and a 22 % rise compared with the same month last year. Notably, many of the defaults involved hospitals and health‑care providers, including the Klinikum Friedrichshafen, which employs over 1,500 staff.
The IWH also tracks leading indicators that precede insolvency events. These indicators surged sharply in February, reaching the second‑highest level recorded since the start of the series in 2020. Drawing on this data, Steffen Müller, head of the IWH insolvency research, predicts that insolvencies will remain high in March and that further increases are likely in April and May.
