Photon Holding files for insolvency

Share

The Photon Holding GmbH has filed for insolvency in the district court Aachen, Germany. The court has apointed attorney Andreas Schmitz as the company’s temporary insolvency administrator.

Schmitz declined a request by pv magazine to comment on the situation.

The insolvency marks the second collapse of a Photon group company. Photon Europe GmbH filed for bankruptcy protection at the end of 2012. In the course of the insolvency proceedings, the operations were transferred to Photon Publishing GmbH, whose top management included many of the same executives of the insolvent company.

The Photon Holding continues to own the Photon trademark as it did during the previous Photon Europe insolvency. As a result, creditors at the time were largely unable to reclaim outstanding debt from the insolvent Photon Europe’s assets, according to the company’s former insolvency administrator Andre Seckler.

Photon Europe’s debt pile reached more than €9 million, according to pv magazine‘s own research.

Translated and edited by Edgar Meza

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.