Update: Centrotherm’s file for bankruptcy protection accepted by Ulm district court

Facebook
Twitter
LinkedIn
Reddit
Email

Blaubeuren, Germany-based Centrotherm has filed for Chapter 11-type bankruptcy protection in Ulm’s district court to start insolvency proceedings. Centrotherm has a three-month window to restructure before creditors come knocking on its door. The company named insolvency lawyer Tobias Hoefer to the board in a bid to oversee the restructuring. Last month, Hans Autenrieth, member of the management board and co-CEO stepped down from his board position. Jan von Schuckmann replaced him and was appointed chief restructuring officer.

Restructuring would take the form of bundling Centrotherm Management Services and Centrotherm Cell & Module within the parent company. All other subsidiaries are expected to continue operating, unaffected by these proceedings.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Schuckmann stated that, Centrotherm will have to cut costs and adjust capacity “to secure our company’s continued existence in the future. This will allow us to maintain Centrotherm’s competitiveness in a difficult market situation.”

Centrotherm “continues to be able to manage its operations itself,” chief executive officer Robert Hartung said in a separate statement. “Since we remain solvent, we can both process customer orders to schedule, and also pay our suppliers.”

According to Bloomberg, Centrotherm’s insurers stopped covering merchandise deliveries last month and banks closed its credit and guarantee lines. The company May reported a €42.9 million (US$53 million) loss in May, before interest and tax in the first three months of 2012 and said it sees no improvement in the first half.

Centrotherm plummeted as much as 81% in Frankfurt today to its lowest level since it started trading in October 2007.
 

Update:

Following yesterday’s report, centrotherm has released a statement dictating that the District Court of Ulm has approved the application the company submitted to initiate insolvency protection.

This ruling allows the company to proceed with its administration’s reorganization plans to contract insolvency liabilities. As a consequence, the prerequisites have been created to allow suppliers and customers to continue their business relationships with the centrotherm Group.
 

Read Next

October 8, 2025
US solar module prices jumped in Q3 2025 as developers scrambled to meet the 2 September 2025 safe harbour deadline for Investment Tax Credit (ITC) qualification, according to supply chain platform Anza.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
Premium
October 8, 2025
PV Talk: Smart Energy Council's Nigel Morris reflects on how Australia has become a global testbed for distributed solar and storage innovation.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 8, 2025
University of Sydney scientists have created the largest and most efficient triple-junction perovskite-perovskite-silicon solar cell on record.
Premium
October 8, 2025
The global energy transition will only be 'marginally impacted' by uncertainties in US energy policy, according to Remi Eriksen, CEO of DNV.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK