Economic crisis in Petershagen: bankruptcies threaten the future!

Economic crisis in Petershagen: bankruptcies threaten the future!

The economic situation in Germany is currently the focus of media reporting. In addition to the challenges posed by migration, many companies are struggling with an increase in bankruptcies. Frank Heitmann, owner of the Minden Westhafen and chairman of the Eldags motorcycle club, expresses concern about the current economic problems, which include, among other things, high energy costs, dilapidated infrastructure and bureaucratic obstacles. Petershäger Anzeiger reports that the development of the West Harbor, which serves as a transshipment point and interim storage facility for various goods such as steel products, glass, gravel, sand and clay, is worrying.

In 2024, the number of ships handled in the Westhafen fell to just 94, while before the corona pandemic there were still around 350 ships per year. This decline has far-reaching consequences for all industries that work with the port. Heitmann points out that steel mills in particular are reducing production due to high energy costs, which leads to fewer transport orders. In addition, the market for recycled glass has collapsed and transport volumes have fallen to just a third.

Bankruptcies and their causes

The current crisis is clearly reflected in the increasing number of insolvencies. Loud daily news Company closures in 2024 are at their highest level since 2015 with almost 22,000 bankruptcies. In March 2025 there were 1,459 bankruptcies, which corresponds to an increase of two percent compared to the previous month. These are the highest numbers since the 2009 financial crisis.

The reasons for this increase are diverse and particularly affect the construction and automotive sectors. For example, at Meeth, a door and window specialist in Wittlich, the doors will close by the end of April 2025, resulting in the loss of 90 jobs. The construction industry has been in crisis over the last five years, triggered by rising construction prices, a shortage of skilled workers and a decline in building permits.

In addition, there are internal problems such as faulty IT systems, which exacerbate the economic situation of many companies. To overcome this structural crisis, urgent reforms are needed, warns Jürgen Philippi, an auctioneer who has observed an increase in insolvent companies. Managing directors often find it difficult to continue ailing companies because high taxes and bureaucratic hurdles make life difficult for them.

The future of the economy

The Heitmann group of companies has also shrunk due to these challenges, and the chairman is calling for a reassessment of political decisions in Berlin that are crucial to economic development. While Tobias Wahl, a specialist lawyer for insolvency law, recognizes both an increase in insolvencies and possible catch-up effects after the corona pandemic, the number of company formations remains at a low level.

High-ranking representatives of the Federation of German Industries (BDI) also express concern about the current situation and are urgently calling for relief for companies. The economic prospects therefore not only depend on the internal company strategies, but are also highly dependent on structural changes and political measures.