Updated: Photon Holding GmbH, which publishes the solar industry magazine, Photon International, has filed for what the publishing company is describing as “temporary insolvency proceedings” in the district court of Aachen, Germany.
Lawyer Andreas Schmitz has been appointed temporary insolvency administrator. Photon Holding’s managing director, Annegret Kreutzmann, will be the company’s legal representative in the insolvency proceedings.
The signs that Photon was facing difficulties had been growing after it emerged that editor-in-chief, Michael Schmela had resigned from the company a week before SNEC 2014.
Schmela had directly informed PV Tech of his resignation from his role and position within the company on the first day of the SNEC conference and exhibition.
Photon's booth at the major PV show was not seen to be staffed at various days during SNEC.
Recent printed Photon publications were displayed in trade magazine distribution areas at Europe's largest PV trade exhibition, Intersolar Europe in Munich, Germany this week.
This is the second time in the last 18 months a Photon company has collapsed. In December 2012, Photon Europe, also filed for insolvency in the Aachen court.
PV Tech is seeking a comment from the company.