Key takeaways at a glance:
- Falkensteg reports that logistics insolvencies fell 9% quarter on quarter in Q1 2026, to 121 cases.
- Large insolvencies in the sector stayed elevated, with seven cases.
- Destatis continues to rank „transportation and storage“ as Germany’s most insolvency-prone economic sector.
- Despite the small decline, experts do not expect a swift recovery and anticipate further market exits in 2026.
Financial conditions across the transport and logistics sector remain tight. Although Q1 2026 brought fewer insolvencies than the previous quarter, the latest indicators continue to place logistics companies among the most exposed businesses in Germany.
That assessment is supported by both a new insolvency report from transformation consultancy Falkensteg and the latest data from the Federal Statistical Office (Destatis). The two sources cover different periods and use different methodologies, but point to the same conclusion: the sector is operating under significant economic stress.
A modest drop in insolvencies, but no all-clear
Falkensteg’s insolvency report shows a quarter-on-quarter decline in transport and logistics cases in Q1 2026, falling from 133 to 121 — down 9%. At the same time, the number of large insolvencies involving companies with more than €10 million in annual revenue was unchanged at seven.
“These figures are not an all-clear for the industry, because both metrics are still at a high level,” warns Falkensteg partner Gunter Fittkau.
According to the consultancy, large insolvencies remain around twice the three-year average. Overall insolvency levels are also still above the long-term norm.
„Transportation and storage“ still tops the insolvency ranking
The official insolvency statistics paint a similar picture.
Destatis says German local courts recorded 2,053 corporate insolvencies in February 2026, which was 0.7% fewer than in the same month a year earlier.
One detail stands out: per 10,000 companies, „transportation and storage“ registered 11.1 insolvencies — the highest rate of any sector. Hospitality followed with 9.7, and construction with 8.8 insolvencies per 10,000 companies.
That keeps „transportation and storage“ at the top of Germany’s insolvency table, according to Destatis.
Cost pressure remains intense
Falkensteg points to a combination of rising diesel prices, higher labour costs, additional CO2-related costs and persistent margin pressure as key drivers. Long-term fixed-price contracts without indexation clauses are seen as particularly risky.
“Anyone still entering fixed-price contracts without an index clause today is acting negligently as a business owner,” says Falkensteg partner Gunter Fittkau.
Industrial demand also remains weak. Many forwarders report low freight rates, while operating and financing costs are rising across numerous lanes.
High-profile cases underline the pressure
Recent insolvencies involving well-known names suggest the strain is not limited to smaller operators.
Long-established forwarder Betz International has filed for insolvency and is currently undergoing restructuring proceedings. Intermodal rail operator Helrom also had to file again after completing a restructuring at the start of 2026.
These cases underline a broader shift: financial distress is increasingly affecting established players as well as newer logistics providers.
No quick turnaround expected
Industry watchers do not anticipate a lasting improvement in the near term.
Credit insurer Atradius expects insolvencies in transport and logistics to rise further in 2026. It cites additional headwinds including geopolitical tensions in the Middle East, high energy prices and climbing operating costs.
Atradius believes small and mid-sized forwarding companies are especially exposed. Fuel costs must be paid immediately, while customer invoices are often settled weeks later. At the same time, many operators are working on very thin margins.
Falkensteg likewise sees no short-term reversal. The consultancy expects large insolvencies to remain high in 2026, and forecasts a further increase in failures among small and mid-sized firms. Particularly at risk are businesses that neither adjust contract structures nor diversify their customer base sufficiently.
Market consolidation is likely to continue
Overall, the latest figures point less to recovery than to continued consolidation.
Even with the slight decline in Q1, both Falkensteg’s analysis and the Destatis data indicate that the transport and logistics sector remains one of Germany’s most economically fragile.
Whether conditions stabilise later in the year will largely depend on energy price developments, a rebound in industrial activity, and how consistently companies can pass higher costs on to customers.
