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The DECT telephone manufacturer filed for insolvency just over a month ago. Now there are new details about what will happen next with Gigaset.
Gigaset submitted one at the end of September 2023 Application to open insolvency proceedings a – the communications technology provider says it is insolvent. Now there is news about what will happen at Gigaset in the future. Gigaset said in a statement that it had succeeded in continuing its operational business Press release from October 26, 2023. Now the search for an investor as a long-term partner begins to secure the economic future of the company from Bocholt. Gigaset is getting help from Clearwater International because the consulting firm specializes in, among other things, company acquisitions and sales. Experts call this focus “M&A”, which stands for “Mergers & Acquisitions” – in German “Merger and Acquisition”.
Investors express interest in Gigaset
“We are well on schedule. After around a month we can start the investor process to find the best possible future partner for Gigaset,” said Dr. Magnus Ekerot CEO and Chairman of the Board of Gigaset AG. Identifying a long-term partner for Gigaset is a key success factor for the company’s further realignment. “We want to create a sustainable and long-term economic basis for Gigaset. In initial discussions with potential partners, clear interest in Gigaset has already been expressed. That makes us very confident,” says Dr. Ekerot continues.
What do Gigaset customers have to consider?
A Gigaset spokesman told SamaGame that insolvency should not be equated with bankruptcy and thus the end of the company. “We are using the situation to prepare ourselves for the future and then operate successfully in it,” said the spokesman. The insolvency proceedings should not change anything for customers. Production continues in Bocholt and on the evening the bankruptcy was announced, employees on the late shift were producing tens of thousands of DECT telephones. “Products can be purchased and used. Our service can be reached by telephone and email,” said the Gigaset spokesman. If you want to be on the safe side as a Gigaset customer, it’s best to secure accessories such as batteries and chargers. Because these components might be difficult to obtain in the event of bankruptcy.
How did you file for bankruptcy?
According to the company, the board of directors of Gigaset AG had decided to submit an application to open standard insolvency proceedings for Gigaset AG and an application to open self-administered insolvency proceedings for Gigaset Communications GmbH at the Münster district court. The aim is to reposition the company. The background for the insolvency application is essentially an unexpected and significant decline in sales in the second half of 2023 and business development that was significantly below plan. In addition, there is persistent and increasing weak demand for Gigaset products as well as purchasing reluctance in Germany and Europe.
