A long-standing automotive supplier in Germany has entered insolvency proceedings. J. G. Weisser Söhne, with over 100 years of history, has filed for self-administered insolvency while continuing its operations.
Company seeks restructuring amid financial challenges
J. G. Weisser Söhne, an automotive supplier based in St. Georgen in the Black Forest, has filed for self-administered insolvency. According to the trade portal “mav”, the company submitted the application to the local court in Villingen-Schwenningen. Despite this development, production at the facility continues uninterrupted.
Founded in 1856, J. G. Weisser Söhne has evolved into a provider of multifunctional turning machines and automation solutions. In 2023, the company reported a turnover of 59 million euros. Currently, it employs 340 workers. Since 2021, the company has been owned by the American Hardinge Group, which itself filed for bankruptcy in the United States last summer.
Optimism amid restructuring efforts
One of the company’s general representatives, Markus Fauser, expressed optimism about the situation: “Production is running at full speed, and we currently have the highest order backlog in the past twelve months. If business partners and the company team continue to work together so well, I am confident of a stable continuation solution.”
In a self-administered insolvency proceeding, a company is allowed to manage the process itself under the supervision of a court-appointed administrator. This approach aims to facilitate restructuring while maintaining business operations.
The coming weeks will be crucial for J. G. Weisser Söhne as it navigates this challenging period, seeking to leverage its current order volumes and industry expertise to emerge from insolvency successfully.
