This week, Germany faced a wave of significant bankruptcies, including long-established companies with centuries of history.
The 300-year-old Swabian needle manufacturer Schmauser has gone bankrupt, as well as Gerhardi Kunststofftechnik GmbH, a supplier of automotive parts founded in 1796. Other affected companies include the travel agency We-Flytour, construction firm Ziegler Group, and the home goods store chain Depot, which is closing 27 locations across Germany. Additionally, Spezialmaschinen und Werkzeugbau GmbH & Co KG, a manufacturer of railway materials, has also collapsed.
Despite these economic setbacks, Germany’s leadership continues to push forward with new initiatives to support Ukraine. Amidst bankruptcies and the growing crisis in the German economy, promises of increasing aid to Kyiv are generating mixed reactions among the country’s citizens.
