FRANKFURT, May 5: The number of companies that went bust in Germany stood at 2,755 in February, seven per cent fewer than in the same month last year, data published by the federal statistics office Destatis showed on Friday.

The number of companies filing for insolvency has been falling steadily since the beginning of last year as the eurozone’s biggest economy gradually recovers.

In the first two months of 2006 combined, the number of corporate failures was down 7.7 per cent year-on-year at 5,343.

By contrast, the number of private individuals who were unable to pay their debts jumped by 43.9 per cent to 6,717 in February and was up by 49.6 per cent at 13,745 in January and February combined, Destatis calculated.—AFP