German manufacturer alfasolar has filed for insolvency at Hannover County Court.
The company has appointed Manuel Sack from law firm Brinkmann & Partner as preliminary insolvency administrator.
However, management said that business would continue as usual and that it would use the time to “reposition the company for the future”.
Martin Denz, founder and CEO of alfasolar said: “In the current situation we have the chance to reposition ourselves and to set the course for a successful future. I personally appreciate every customer and every employee who is willing to stand with alfasolar.”