Germany’s Priogo information for insolvency – pv journal International

From pv journal Germany

At the tip of final week, Priogo AG filed an utility for the opening of insolvency proceedings within the accountable district court docket of Bonn. The judges appointed lawyer Franz Zilkens from the Voigt Salus regulation agency as provisional insolvency administrator, as famous within the public discover.

The purpose for the chapter utility is the extraordinarily troublesome market situations because the center of final yr, the sources mentioned. pv journal. There is powerful competitors within the area, affecting not solely PV installations, but additionally the heating business.

In addition, the federal government’s adoption of measures to speed up the enlargement of PV, often called Solar Package 1, has been delayed for a number of months. The hope-for the advance of the state of order has subsequently not been realized up to now. Like many photo voltaic set up firms, Priogo additionally grew with a robust surge in demand after the outbreak of conflict in Ukraine in 2022. Demand is now again to regular, however the remaining orders are distributed to extra suppliers out there.

Priogo goals to proceed enterprise operations regardless of the non permanent insolvency. The insolvency cash will cowl the salaries of the staff for the following three months. In the approaching weeks, an answer to the continuation of the corporate shall be sought along with the insolvency administrator, the corporate mentioned.