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Rise in bankruptcies for German furniture industry

In the wake of economic challenges, the furniture industry is grappling with a significant rise in insolvencies. Data from the German Federal Statistical Office indicates a 24.1 percent increase in corporate insolvencies from January to October 2023 compared to the same period in the previous year.

Photo © Denis Zolotov |

In the furniture industry, insolvencies have also seen a rise throughout 2023, increasing by approximately 15 percent compared to the previous year. The provisional monthly data on regular insolvency proceedings are derived from current insolvency announcements from all district courts in Germany.


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