Overview

• A Wuppertal court opened preliminary insolvency proceedings for the 168-year-old lock-systems maker and appointed Joachim Exner as provisional administrator.
• Kiekert’s leadership accuses Chinese owner Lingyun/North Lingyun Industrial of withholding capital and failing nine-figure commitments, triggering a liquidity shortfall.
• The company cites sanctions-related fallout such as withdrawn U.S. orders, rating downgrades and banks declining new credit.
• Operations continue at all sites, with about 700 Germany-based employees covered by insolvency pay and foreign subsidiaries in Europe, Asia and North America unaffected.
• Kiekert employs roughly 4,500 people and supplies lock designs for about one in three cars worldwide, against a backdrop of elevated auto-supplier insolvencies in 2025.