Corporate insolvencies: Number of major cases in Germany rises again
Background & Context
In the first half of 2026, Allianz Trade recorded 33 insolvencies in Germany among companies with at least €50 million in annual revenue. That was 10% more than in the same period a year earlier.
Full-year totals had also increased previously, from 64 major insolvencies in 2023 to 87 in 2024 and 94 in 2025, the highest level since Allianz Trade began tracking the figures in 2015. The auto industry was hit hardest in the first half of 2026 with seven cases, followed by retail with five, while the machinery and services sectors recorded four each.
The combined annual revenue of the affected companies rose 3% to €4.5 billion, while average revenue per insolvent company fell by just under 7% to around €137 million. Globally, Allianz Trade recorded 247 major insolvencies in the first half of the year, up 13% from the same period a year earlier; more than 60% of the cases were in Western Europe.
According to the credit insurer, sectors with high investment and energy costs, as well as companies with limited pricing power, remain particularly vulnerable.
Article Profile
Dramatization
Moderate
5/10
The article uses occasional dramatizing wording but stays mostly factual.
Moralizing
Low
1/10
The presentation largely avoids moral judgments.
Sharpening
Moderate
4/10
The article sharpens individual aspects but keeps some nuance.
Objectivity
High
8/10
The article is largely factual and fact-oriented.
Review Transparency
We reviewed the current increase, the addition of “again,” and the underlying definition of major insolvencies. The figures come from an analysis by the credit insurer Allianz Trade and refer to companies with at least €50 million in annual revenue.
The comparison for 2026 covers the first half and its year‑earlier period; the figures for 2023 to 2025 are full‑year totals and should not be compared directly with the 33 cases in the first half of 2026. We did not examine the specific causes of individual insolvencies or whether this subgroup indicates a corresponding trend for German companies as a whole.
Impact Check
Does it affect you?
60% impact
German companies, especially in the auto industry, are under pressure as insolvencies rise.
Security risk?
10% impact
No direct security risk for Germany, as this concerns economic developments.
Historic?
75% impact
Comparable to earlier economic downturns, again showing high sector vulnerability.
Why is this article's headline most likely true
The statement is true: The number of major insolvencies in Germany recorded by Allianz Trade rose again in the first half of 2026 compared with the same period a year earlier. The word “again” is also justified, since full‑year totals had already increased significantly from 2023 to 2025.
The distinction is important, however: This refers to large companies with at least €50 million in annual revenue, not all corporate insolvencies in Germany.
This analysis is based on a journalistic report by zeit.de. The rating and context were produced with AI assistance.
AI Transparency
This analysis was produced, structured and editorially reviewed with AI-assisted systems. The rating refers to the specific statement examined and is based on the sources cited.
Methodology & AI Transparency