Bankruptcies of freight forwarders in Germany are on the rise

According to the Federal Statistical Office of Germany, the number of corporate bankruptcies increased by more than 27.6% in January and continued to rise in February and May. According to the Association of Insolvency Administrators and Trustees of Germany (VID), even if it is not yet possible to speak of a wave of bankruptcies, this trend in the transport industry cannot be ignored.

The Federal Association of Logistics and Transportation (BLV-pro) recently warned that the transport industry is facing a significant increase in bankruptcies. The companies affected by the current economic and geopolitical situation are facing tough decisions and are forced to adapt to new realities.

With a reference to the industry insiders, the association estimated that about one-third of toll costs cannot be paid as contractually agreed due to lack of liquidity and that the leading insurers are even ending cooperation with clients due to payment difficulties.