Germany’s Federal Statistical Office recently reported that most corporate insolvencies in October last year were in the construction sector (251 cases). This was followed by trade (including maintenance and repair of motor vehicles) with a total of 206 insolvency proceedings. According to this statistics body’s provisional figures, regular insolvency proceedings likewise picked up by 3.1 percent year-over-year in December.
The situation thus remains tense. Moreover, the threat of a global recession was one of the hottest topics of conversation at the World Economic Forum (WEF) which took place in Davos in mid-January this year. According to a survey carried out by the WEF’s organizers, 18 percent of the chief economists consulted assume that a global recession is highly likely in the current year. The problems mentioned in this context include the high rate of inflation, the huge mountains of debt and the high level of fragmentation between countries.
In view of these circumstances, many German companies are now preparing for a potential downturn. At Haselhorst Associates, we are convinced that the need for restructuring – and thus the number of CRO assignments – is set to continue to rise. A professional and standardized approach to the training of restructuring experts is therefore all the more important. This is a subject which we are addressing through our recently founded CRO Academy. Our blog entry on this subject provides further information on the Haselhorst Associates concept: Click here