IHK Grant for Rehabilitation Plans - Aid for Companies in Distress - Erfurt's New Grant Program Aims to Rescue Struggling Businesses from Insolvency

The Erfurt Chamber of Industry and Commerce (IHK) has launched a new grant program to help struggling businesses avoid insolvency. With rising closures and economic pressures, the initiative aims to provide early support for companies facing financial difficulties but still solvent.

The scheme comes as Thuringia sees an increase in insolvencies, particularly in retail, construction, and hospitality, with around 150 firms filing since 2023.

The grant targets commercial enterprises in the Erfurt IHK district that need restructuring but are not yet insolvent. High costs, weak demand, and uncertain economic policies have forced many firms to delay investments and hiring. IHK President Peter Zaiß stressed that early intervention can prevent unnecessary bankruptcies by helping businesses develop viable restructuring plans.

The chamber will cover half the cost of drafting a consolidation plan. Companies with employees or trainees can receive up to €7,500, while smaller firms without staff qualify for up to €3,000. This plan is a requirement for accessing loans from the Thuringian Consolidation Fund, which offers around €14.5 million in liquidity assistance.

Thuringia's Minister of Economic Affairs, Colette Boos-John, described the initiative as crucial for reinforcing the region's economic stability. The program seeks to reduce avoidable insolvencies by ensuring businesses have the resources to restructure effectively.

The grant program provides partial funding for restructuring plans, enabling firms to access state-backed loans. By early 2026, the scheme will support businesses in high-risk sectors, aiming to lower insolvency rates. The IHK and state government will monitor its impact on local economic recovery.