As a result of the Corona crisis, demand for cars collapsed – production by German automakers stalled for weeks. Suppliers are also noticing this – such as Gehring from Baden-Württemberg.
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The mechanical and automotive supplier Gehring, headquartered in Ostfildern, near Stuttgart, is insolvent. The company, which was founded in 1926, filed for insolvency claims for German companies in the district court in Stuttgart. This emerges from a press release from the supplier.
The three German sites and 624 employees are affected by the insolvency request. Employees receive insolvency payments. Branches in countries such as the United States, China, India or Mexico are apparently not affected.
The operation must be continued – the delivery capacity is not limited either, according to Gehring. One of the reasons for bankruptcy is the “transformation of the auto industry”.
But the corona pandemic, which hit the German auto industry hard, also caused business to collapse. Because car sales in Germany have collapsed other suppliers also have major problems. The group now hopes to develop a “positive repositioning for the future”.