Grundig SAT Systems is insolvent

Grundig’s last holdover, GSS Grundig Systems, is insolvent. The jobs are to be retained.

“On October 18, 2021, GSS Grundig Systems GmbH filed for preliminary insolvency at the Nuremberg District Court. This step has become necessary due to the pandemic-related market situation, primarily in the procurement of raw materials and components, ”said a statement on Friday. But hope has not yet been given up.

This decision is intended to ensure the continued existence of GSS GmbH. By operating profitably in the period before the pandemic, GSS can choose the form of a preliminary bankruptcy. the Website but cannot be reached at the moment, for example.

According to the company, extraordinary difficulties in procuring raw materials and components brought Grundig into a liquidity bottleneck. In particular, the global shortage of chips as well as the extremely high procurement and logistics costs on the world market contributed to the misery. For these reasons, the “pleasingly high order backlog” can mainly be attributed to head-end stations for receiving systems […] At the current point in time, they are not being produced or delivered and therefore no income that covers the costs can be generated. The company’s core business is thus on the sidelines.

Robert Kirschner, managing partner of GSS Grundig Systems GmbH, explains: “We very much regret this step and clearly confirm that GSS will continue after a short respite, which has given us the provisional insolvency. We use the time for a fundamental restructuring – the goal is to be able to largely preserve the 25 jobs. “

GSS is the last remnant of the former Grundig group. At the end of the 1980s, the workforce was more than a thousand times higher. The manufacturer of satellite systems went bankrupt four years ago. A TV brand also still uses the name. But this belongs to the Turkish company Beko.


Source: DIGITAL FERNSEHEN by www.digitalfernsehen.de.

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