Battery maker Varta filed for insolvency proceedings under self-administration on Friday to secure the company's future.
The traditional manufacturer from Ellwangen submitted the application to the Stuttgart District Court. The proceedings aim to enable a sustainable continuation of operations. The company stressed that there is no acute insolvency in ongoing business.
The household batteries segment remains unaffected by the filing. The court appointed lawyer Tobias Wahl from the firm Anchor as preliminary administrator. Wahl sees the restructuring measures as an opportunity for a viable solution.
Varta cited complex group structures and a structural financing gap at the parent company level. This gap concerns development from 2027 onward and prompted the filing.
