Endor AG Files for Insolvency

Endor AG has filed for insolvency with the Landshut Local Court due to over-indebtedness and insolvency. Despite this, the company's foreign subsidiaries remain unaffected. Efforts to reorganize under the German Company Stabilisation and Restructuring Act (StaRUG) failed, primarily due to the former CEO's opposition and unrealistic demands from the majority shareholder.

Negotiations with strategic investor CORSAIR also broke down, leading to the cessation of bridge financing. Nevertheless, business operations, including sales and customer services, will continue without interruption during the insolvency process.

The company's liabilities have reached over 95 million euros, driven by high bank and supplier debts, and a necessary bridging loan. The Management Board aims to secure a takeover and maintain operations at the Landshut site, asserting confidence in finding a viable investor.