Bankruptcies soar among German large companies

BERLIN, Nov. 27 (Xinhua) -- Germany is seeing a sharp rise in insolvencies among companies with a minimum annual turnover of 50 million euros (54.5 million U.S. dollars), according to a study published on Monday by credit insurer Allianz Trade.

In the first nine months of this year, the number of larger businesses that went bankrupt increased by 73 percent year-on-year to 45, according to Allianz Trade. The fashion industry, hospitals, and mechanical engineering were hit particularly hard.