Germany is witnessing a swift rise in business insolvencies, reaching numbers comparable to those during the 2009 financial crisis, according to economic experts. The surge, primarily affecting larger companies, is attributed to aftereffects of the COVID-19 pandemic and the impact…
Lilium, the Bavarian air taxi manufacturer that recently laid off employees due to insolvency, has secured a last-minute investor, the Mobile Uplift Corporation consortium. This development allows the company to plan its first flight, with the transaction expected to close…
Investor Lars Windhorst is under scrutiny as two shipyards, Flensburger Schiffbau-Gesellschaft and Nobiskrug, enter preliminary insolvency. Employees have reported wage delays and lack of work, while Windhorst’s Tennor Group faces financial challenges across multiple ventures. Authorities are investigating claims of…
Authorities have initiated investigations into Christoph Gröner’s company for potential bankruptcy concealment and misappropriation of employee wages. Raids began early morning at the company’s offices in Leipzig, involving over 100 officers. Gröner’s firm filed for insolvency in October, and concerns…
Despite plans to close all stores by the end of 2024, the Esprit fashion chain will keep 30 of its 56 locations in Germany open until late January due to excess inventory. This decision aims to leverage the holiday shopping…
