Over 90 years: automotive supplier Gehring is insolvent

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.

Photo series with 12 images

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”.

Related:   Costa Rica starts limited economic opening in agreement with businessmen | Economy | America Edition

Disclaimer: Gitenberg brings its readers, one source of useful information for their next new vehicle purchase. We treat every model range independently and understand that not all cars are built for the racetrack and not all cars are built for the school run. Gitenberg applies an unbiased view when compiling reviews for its readers, providing key information and opinions to help make that next new car purchase a lot easier.

If you'd like to buy a car, visit here

Leave a Reply

Your email address will not be published. Required fields are marked *