According to an official notice yesterday, Wednesday March 6, Hawi has submitted an application to open insolvency proceedings. The photovoltaic wholesaler filed the application on Monday, reports Germanys Passauer Neuen Presse. Lawyer Jochen Zaremba has been appointed provisional administrator by the local court in Landshut.
The newspaper adds that around 100 employees, more than half of which are located at Hawis headquarters in Eggenfelden, have been affected by the insolvency. Zaremba is expected to make a decision regarding continued business operations in the coming days, says company founder, Johann Wimmer.
From his perspective, the rapidly decrease photovoltaic module prices and sudden fall in demand for modules in Italy and France, are responsible for the companys current position.
Hawi has offices in Germany, France, Italy and Greece. As a wholesaler, the company offers components for grid-connected and stand-alone photovoltaic systems, and storage solutions.
Translated by Becky Beetz.