The Münster district court has opened standard insolvency proceedings over the assets of Gigaset AG.
The communications technology provider published a corresponding message on its website on Tuesday evening. Markus Wischemeyer was appointed as insolvency administrator.
Gigaset AG filed for insolvency in September and says it is insolvent. The main reason for this is an unexpected and significant decline in sales in the second half of 2023 and business development that was significantly below plan. In addition, there is persistent and increasing weak demand for Gigaset products as well as purchasing reluctance in Germany and Europe.
An application to open insolvency proceedings under self-administration had been filed for Gigaset Communications GmbH. According to the company, development, production and sales activities for DECT cordless telephones continued unchanged. According to Gigaset, the search for investors has been ongoing since the end of October. The aim is the sustainable restructuring of operational business operations.
According to its own information, Gigaset is Europe’s market leader for DECT cordless telephones with around 850 employees. The business activities of the company with a 175-year history also included Android-based smartphones, cloud-based smart home offerings and business telephony solutions.
In Tradegate trading, the Gigaset share was temporarily 5.26 percent higher at 0.02 euros.
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BOCHOLT/MÜNSTER (dpa-AFX)
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