A German local court has opened a regular insolvency proceeding against communications technology company Gigaset AG, Europes market leader for wireless phones, raising questions as to how or whether the struggling company will be restructured.
The Mnster Local Court (Amtsgericht Mnster) in North Rhine-Westphalia opened ordinary insolvency proceedings against Gigaset AG, German news outlets reported on Wednesday. The company also confirmed it on its website on Tuesday evening.
With around 850 employees, the 175-year-old companys products include analogue and IP-based Digital Enhanced Cordless Telecommunications (DECT) telephones, Android smartphones, cloud-based smart home solutions, as well as DECT telephones and signals for companie…
Read the full article at: https://www.euractiv.com/section/digital/news/phone-manufacturer-gigasets-future-uncertain-following-insolvency-proceedings/