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Telephone manufacturer is insolvent: Gigaset files for bankruptcy
According to its own information, Gigaset is the market leader in cordless telephones. Now the company is insolvent.
© Jörg Carstensen / DPA
The telephone manufacturer Gigaset is insolvent. According to its own information, the company’s board of directors decided on Tuesday to open standard insolvency proceedings.
The communications technology provider Gigaset says it is insolvent. The board of directors According to company information on Tuesday, Gigaset AG decided to file an application for the opening of standard insolvency proceedings for Gigaset AG and an application for the opening of insolvency proceedings in self-administration for Gigaset Communications GmbH at the Münster district court.
Telephone manufacturer Gigaset is insolvent
The Bocholt-based company said its development, production and sales activities for DECT cordless telephones will continue unchanged. The aim is the sustainable restructuring of the economic basis.
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. The overarching goal of the self-administered insolvency proceedings for Gigaset Communications GmbH is the sustainable restructuring of the operational business.
According to its own information, Gigaset is Europe’s market leader for DECT cordless telephones with around 850 employees. The business activities of the company with a 175-year history also included Android-based smartphones, cloud-based smart home offerings and business telephony solutions.