German business insolvencies down in May, but more employees affected

The number of German businesses filing for bankruptcy was down last month, after reaching a 20-year high in April, according to new figures published Tuesday. Across Germany, 1,478 businesses declared insolvency in May, a decline of 9% compared to the previous month, though 17% higher than in the same month last year, the Halle Institute for Economic Research (IWH) said.