2024-09-20 17:22:37
The supplier JG Weisser has existed for more than 100 years. Now the company has had to file for insolvency under self-administration.
The automotive supplier JG Weisser Söhne has filed for insolvency under self-administration. The company from St. Georgen in the Black Forest has filed a corresponding application with the district court in Villingen-Schwenningen, reports the specialist portal “mav”. However, production is currently continuing as normal.
The company was founded in 1856. Today, the supplier is a provider of multifunctional lathes and automation solutions. In 2023, sales amounted to 59 million euros. JG Weisser Söhne currently employs 340 people. Since 2021, the company has been owned by the American Hardinge Group, which, however, had already filed for bankruptcy in the USA in the summer.
One of the general representatives was optimistic: “Production is running at full speed and we currently have the highest order backlog in the last twelve months. If business partners and the company team continue to work together so well, then I am convinced that a stable continuation solution will be available,” said Markus Fauser. In the case of insolvency proceedings under self-administration, a company can take over the proceedings itself under the supervision of a court-appointed administrator.