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German Federal States — News — Germany — europe — munster — Insolvency proceedings — standard insolvency proceedings — North Rhine-Westphalia — gigaset — Telecommunications — bocholt — Local court

Court opens insolvency proceedings for Gigaset

Münster Local Court has opened regular insolvency proceedings on the assets of Gigaset AG. The communications technology provider published a corresponding announcement on its website on Tuesday evening. Markus Wischemeyer was appointed insolvency administrator.

,   and  Grigoriy Williams
2 min read
A Gigaset employee checks the GS 185 smartphone from Gigaset that has just been assembled. Photo.aussiedlerbote.de
A Gigaset employee checks the GS 185 smartphone from Gigaset that has just been assembled. Photo.aussiedlerbote.de

Phone manufacturer - Court opens insolvency proceedings for Gigaset

Münster Local Court has opened regular insolvency proceedings on the assets of Gigaset AG. The communications technology provider published a corresponding announcement on its website on Tuesday evening. Markus Wischemeyer was appointed insolvency administrator.

Gigaset AG had filed for insolvency in September and is insolvent according to its own statements. The main reason for this was an unexpected and significant decline in revenue in the second half of 2023 and a business performance that was significantly below plan. In addition, demand for Gigaset products remains weak and is worsening, as well as a reluctance to buy in Germany and Europe.

An application for the opening of insolvency proceedings under self-administration had been filed for Gigaset Communications GmbH. According to the company, development, production and sales activities for DECT cordless phones continued unchanged. According to Gigaset, the search for investors has been underway since the end of October. The aim is to restructure the company's operations on a sustainable basis.

Gigaset claims to be Europe's market leader for DECT cordless phones with around 850 employees. The business activities of the company, which has a 175-year history, also include Android-based smartphones, cloud-based smart home offerings and business telephony solutions.

Homepage Gigaset AG

Read also:

  1. Despite the insolvency proceedings in Germany, Gigaset continues to operate in the European telecommunications market.
  2. The decline in revenue and weak demand for Gigaset products in Germany and Europe significantly contributed to the insolvency of Gigaset AG.
  3. The Local Court in North Rhine-Westphalia appointed a new insolvency administrator for Gigaset AG, which is based in Bocholt.
  4. Gigaset AG's insolvency proceedings under standard insolvency proceedings began in September, following a significant reduction in revenue and below-plan business performance.
  5. In an effort to restructure its operations and find new investors, Gigaset AG, the German phone manufacturer, continues its activities in Germany, Europe, and beyond, as a market leader for DECT cordless phones.

Source: www.stern.de

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