According to a study by the consulting company Falkensteg, the number of large companies (defined as companies with a turnover of more than 10 million euros) that went bankrupt last year increased by about a quarter to 471.
Compared to 2021, the number of large bankruptcies has increased almost threefold.
"The German economy is not just experiencing a headache; it has caught a fever," said Jonas Eckhardt, the author of the study, to the newspaper Welt. He added: "For many medium-sized companies, this is no longer just a temporary economic downturn but a matter of survival. The cyclical downturn is turning into a structural collapse."
The study explains the increase in bankruptcies as a combination of factors, such as a structural crisis in the automotive and engineering industries, declining consumption, and geopolitical uncertainty.
The positive results of the investment programs announced by Germany, financed by a record volume of bond issuance, are still virtually unnoticed.
In 2025, manufacturers of metal products accounted for the majority of registered bankruptcies - 65 cases, which is more than a third higher than in 2024. Suppliers to the automotive industry were also significantly affected - 59 bankruptcy cases.
The largest increase was observed in the electrical engineering sector, where the number of bankruptcies surged by nearly 77 percent, reaching 53 cases.
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