Thuringia in crisis: Record number of bankruptcies threaten jobs!

Thuringia in crisis: Record number of bankruptcies threaten jobs!

The Thuringian economy is in a difficult situation. In the first quarter of 2025, 96 companies filed for bankruptcy, an increase of almost 25% compared to the same period last year. Motor vehicle dealers and repair shops in particular have been hit hard, with 22 insolvency proceedings in this sector. In addition, 11 industrial companies filed for bankruptcy. The causes for this development are diverse, but primarily include increased costs and sales problems on export markets, as [n-tv] reports.

The bankruptcies also pose significant economic challenges. The Chambers of Industry and Commerce in Thuringia point out that the high operating costs are a central problem. The affected companies collectively employ around 600 people, and it remains to be seen how many of them will continue to find employment.

Consumer bankruptcies are also on the rise

In addition to corporate bankruptcies, Thuringia is also recording an increase in consumer bankruptcies. 419 such proceedings were opened in the first quarter of 2024. This number had increased significantly compared to the previous year. The total debts from these consumer bankruptcies amount to around 127.5 million euros. On average, those affected have debts of 51,000 euros. Creditor claims in this area are more than twice as high as in the same period last year, which has doubled the financial burden for many people, as [Thüringen24] highlights.

Companies and consumers are therefore facing enormous economic challenges. Experts fear that the ongoing problems in the industrial and service sectors could lead to further bankruptcies. However, this does not necessarily mean the end of these companies and jobs, as in some cases investors are trying to facilitate restarts.

Summary of bankruptcy data

The current situation in Thuringia is therefore tense and requires innovative solutions to meet the challenges in the economy. The next few months will be crucial to see whether the situation improves for those affected or whether there is a risk of further bankruptcies.