One fifth of German firms fear for their survival amid pandemic: Ifo

One fifth of German firms fear for their survival amid pandemic: Ifo

Around one fifth of German companies (21per cent) believe their survival is threatened by the coronavirus crisis, Germany's Ifo institute said on Monday, with travel agents, hotels and restaurants particularly concerned.

The skyline of the banking district is pictured in Frankfurt
The skyline of the banking district is pictured in Frankfurt

BERLIN: Around one fifth of German companies (21per cent) believe their survival is threatened by the coronavirus crisis, Germany's Ifo institute said on Monday, with travel agents, hotels and restaurants particularly concerned.

"We could see a wave of insolvencies in the coming months," Ifo researcher Stefan Sauer said.

(Reporting by Michelle Martin; Editing by Scot W. Stevenson)

Source: Reuters

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