In a startling revelation from Allianz's recent study, Germany faces an alarming rise in major insolvencies, heading towards the record levels witnessed in 2020. Key sectors like textiles, fashion retail, and healthcare facilities bear the brunt.

By September, Germany experienced 45 major insolvency cases, signaling a remarkable 73% surge from the previous year and an astonishing 165% increase compared to 2021, according to Allianz Trade's analysis.