Jünger Audio has announced its intention to reorganise as part of its insolvency proceedings. The company submitted a corresponding application with the Charlottenburg District Court, and the court appointed Attorney Stefan Ludwig from Schultze & Braun as the provisional insolvency administrator.

The goal of this process is to accelerate the company restructuring that began last year and to complete it successfully: ‘We are working to make the business model of Jünger Audio more future-oriented,’ explains MD, Martin Schlockwerder. ‘In the future, along with our hardware, we also want to focus more on software-based solutions for audio technology in order to account for the major changes in the market.’

The necessary internal reorganisation efforts are already in full swing, but for financial reasons they could not be completed without declaring insolvency. ‘Ultimately, we were lacking the liquidity to bring the new concept to fruition,’ Schlockwerder adds.

Jünger Audio is seeking an investor with the financial resources needed to support its reorientation. ‘With fresh funds, we can present our world-renowned development work in the form of innovative products, offering them as platform-independent software in the relevant future markets,’ Schlockwerder explains.

Jünger Audio launched a Mergers and Aquisitions process before the start of the provisional insolvency proceedings in order to target specific investors. ‘We are able to build on the extensive preliminary work that has already been done,’ says Stefan Ludwig. ‘That’s very good, because we can continue the discussions with potential investors without losing too much time. Our goal is to successfully complete the search in a timely manner.’

In the meantime, business operations continue without restriction. ‘All current orders will be fulfilled as promised,’ says Ludwig. The employees’ jobs are safe through to the end of August thanks to the insolvency payment.

More: www.jungeraudio.com