Almost one in five German companies sees itself at acute risk of insolvency due to the coronavirus crisis, a survey from the DIHK Chambers of Commerce showed, pointing to the heavy toll the coronavirus outbreak could take on Europe’s largest economy.
“That should set all the alarm bells ringing – if we don’t take decisive action, we’ll see economic damage of historic proportions,” DIHK President Eric Schweitzer said of the survey published on Friday.
The survey showed more than a quarter of companies expect revenue declines of at least 50% in 2020.
