CustomCells, Germany secures new investors after insolvency On July 3, CustomCells announced that it has completed its investor process following insolvency proceedings. It will be taken over by a consortium of industry-focused family offices, including existing investor ABACON and SALVIA. The purchase agreement includes the transfer of 80% of employees at the Itzehoe headquarters. The research and development activities in the field of battery c...

News  Updated at: 2025/07/04

LeddarTech announces intention to file for bankruptcy in Canada On June 16, LeddarTech Holdings Inc., an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), announced that it intends on making an assignment into bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada). After undertaking a strategic review which was unsuccessful in identifying a suitable acqui...

News  Updated at: 2025/06/18

ing from the ordinary course of business operations when they become due in order to continue as a going concern. Considering the company’s current circumstances, Li-Cycle says it will need to significantly modify or terminate its operations and may need to dissolve and liquidate its assets under insolvency laws or otherwise file for insolvency protection. Li-Cycle is thus retaining Hilco Corporate Finance, LLC, a financial services company, to...

News  Updated at: 2025/05/02

CustomCells files for insolvency proceedings for key German entities On April 30, CustomCells announced that it had filed for insolvency proceedings for its main operating entities in Itzehoe and Tübingen, Germany. The holding company of the CustomCells Group is not affected by the insolvency filing currently. CustomCells is in financial trouble because its biggest customer, Lilium, hasn’t paid its bills. CustomCells tried to find new investor...

News  Updated at: 2025/05/01

Ebusco, Netherlands reports insolvency risk amid ongoing financial struggle On April 30, Ebusco announced that 2024 had been a challenging year, marked by a shift in its production strategy from OEM to outsourcing, the launch of a turnaround plan and organizational restructuring. The company also faced major setbacks, including a production halt and canceled bus orders. Ebusco reported that it is relying on its suppliers to agree to new payment ...

News  Updated at: 2025/05/01

hana Motherson International Limited (SAMIL) announced that its subsidiary, SMRP B.V., will begin the process of winding down operations at the Judenbach plant in Germany. The decision follows SMRP B.V.'s acquisition of the assets of the Dr. Schneider Group in October 2023, a company that was under insolvency proceedings at the time. The Judenbach facility will undergo a structured shutdown, with negotiations with the local works council expected...

News  Updated at: 2025/04/25

Bohai Trimet Group, Germany files for insolvency proceedings On April 17, Brinkmann & Partner, a restructuring and insolvency administration firm, announced that the Halle (Saale) District Court appointed Olaf Spiekermann, a specialist in insolvency and restructuring law and a partner at the nationwide law firm Brinkmann & Partner, as provisional insolvency administrator for all four Bohai Trimet companies after the managing directors filed for i...

News  Updated at: 2025/04/23

Andreas Haller Holding acquires key assets of Quantron AG, Germany On April 1, BBL Brockdorff, a law firm based in Germany, announced that Andreas Haller Holding GmbH would acquire all key assets of Quantron AG, along with its remaining core team of 35 employees, through a restructuring by transfer. Since filing for insolvency, Quantron has operated under the administrator’s supervision. The administrator has been actively seeking a long-term ...

News  Updated at: 2025/04/03

d FCSD and in Niehl stopped work and followed the call for a warning strike. With the planned restructuring and Ford Motor Company ending its letter of comfort, the works council and IG Metall are demanding a strong future and job protection for all 11,500 employees in Cologne, even in the event of insolvency. Based on IG Metall press release and other sources...

News  Updated at: 2025/04/03

Ola Electric, India subsidiary faces insolvency petition over alleged payment default On March 15, Ola Electric Mobility Limited announced that a petition had been filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Rosmerta Digital Services Limited is an operational creditor of Ola Electric Technologies Private Limited, a wholly owned subsidiary of Ola Electric Mobility Limited. The petition, submitted before the Na...

News  Updated at: 2025/03/17

ided bankruptcy is the only option while all realistic options to obtain financing during the Swedish bankruptcy process. After the filing, a Swedish court-appointed trustee will manage the process, including selling the business, handling assets, and settling debts. The process will follow Swedish insolvency law to ensure a smooth transition. Northvolt has nominated Mikael Kubu as trustee. The entities Northvolt AB, Northvolt Ett AB, Northvolt L...

News  Updated at: 2025/03/12

Boryszew, Germany files for insolvency On March 5, Anchor, one of the largest restructuring units in Germany, announced that Boryszew Kunststofftechnik Deutschland GmbH had filed for insolvency. The company manufactures plastic and zinc die-cast components for the automotive industry.  The company has been struggling with the effects of the crisis in the automotive industry for some time and has run into economic difficulties.  The district cou...

News  Updated at: 2025/03/10

Tesla to acquire some assets of German automation systems supplier Manz On February 25, German automation systems supplier Manz announced that Tesla has agreed to buy certain of its assets after entering insolvency proceedings following a liquidity squeeze. Tesla Automation, which makes special-purpose machines at three locations in Germany, will add Manz’s Reutlingen site to its operations and take over more than 300 employees as well as movab...

News  Updated at: 2025/02/26

Voit, Germany files for bankruptcy On January 23, multiple sources reported that Voit Automotive, a German automobile supplier with production sites in four countries, had filed for insolvency under self-administration.  Last week, the Chinese company Millison Technologies' takeover of Voit failed. Although Voit stated that operations would continue without interruption. The employees' wages would be secured until March 2025 via the insolvency s...

News  Updated at: 2025/01/28

INEOS Automotive resumes production at Hambach plant, France On January 16, INEOS Automotive announced that it has resumed production of the Grenadier and Quartermaster 4X4s at its Hambach plant, following a critical seat shortage caused by a supplier insolvency late last year. The company announced that the discontinued production line of smart ForTwo models, which ceased production in 2024, has been dismantled to make room for future INEOS prod...

News  Updated at: 2025/01/21

Manz AG, Germany to continue operations during ongoing insolvency proceedings On January 10, Manz AG announced that its business operations will continue even during the ongoing preliminary insolvency proceedings. Manz AG develops production solutions for lithium-ion batteries and electronic components and devices for its customers in the automotive and e-mobility, electronics, energy, etc. sectors. As part of the preliminary insolvency proceedin...

News  Updated at: 2025/01/13

mbw Group, Germany files for insolvency On January 8, Schultze & Braun, a law firm in Germany, announced that several companies in the mbw Group, a group of companies specializing in the surface finishing of metals, have filed for insolvency for various operational and non-operational companies in the group.  The company has its headquarters in Rheinmünster and plants in Lichtenau, Einbeck, Mühlhausen, Sömmerda, and Hartha. The entire mbw gro...

News  Updated at: 2025/01/10

Manz AG, Germany to file for insolvency On December 18, Manz AG announced that its management has decided to apply for the opening of insolvency proceedings due to the company's illiquidity that has occurred and for the over-indebtedness of Manz AG under insolvency law. The application for the opening of insolvency proceedings is expected to be filed in the following days. The insolvency was triggered by the decision of Manz AG’s creditors not ...

News  Updated at: 2024/12/19

Quantron, Germany to continue business operations amid insolvency proceedings On November 18, BBL Brockdorff, a law firm based in Germany, announced that the business operations of Quantron AG will continue until further notice with the help of a core team of around 40 employees.  BBL announced that the pre-financing of the insolvency money by a bank has now been secured, guaranteeing employees will receive back pay for October and wages for Nov...

News  Updated at: 2024/11/25

Streetscooter to cease production in Germany, relocated to Thailand in 2025 On November 12, multiple sources reported that the production of Streetscooters will be stopped in Düren, Germany, and relocated to Thailand in 2025. At the start of 2024, e.Volution bought this company when the previous owner B-ON had filed for insolvency. It also partnered with Neapco, a contract manufacturer of the electric delivery vehicles.  Based on multiple sourc...

News  Updated at: 2024/11/13