Platinum files for insolvency

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Platinum GmbH, a Wangen im Allgäu, Germany-based inverter manufacturer, has announced today that it has filed for insolvency amid continuing financial difficulties in the PV sector.

A press release issued today stressed that the company’s current, day-to-day operations will not be affected by the preliminary insolvency actions. The company also revealed that it has appointed Holger Leichtle of law firm Schultze & Braun to oversee the insolvency proceedings.

"The ongoing operation and supply to customers will continue as normal," reassured Leichtle, who will coordinate Platinum’s restructuring process as the company open up discussions with its partners and suppliers.

pv magazine understands that none of the 70 employees who currently work for Platinum are at risk of losing their jobs, with salaries secured for the next three months via an insolvency fund.