Overview
- The Munich district court opened preliminary insolvency proceedings and tasked Jaffé with overseeing Govecs’ finances.
- All company spending now requires the administrator’s sign-off as he weighs continuation, a partial or full sale, or a wind-down.
- Govecs builds the eSchwalbe through a 35-person Polish subsidiary that has entered a restructuring process to keep operations saleable, while about eight staff work in Munich.
- Jaffé has started investor outreach and is highlighting Govecs’ exclusive rights to the Schwalbe brand as a key asset.
- Accounts published for 2022 show roughly 2,250 scooters sold, €7.6 million in revenue and a €12.5 million loss, with PwC warning on going concern, and reports put 2025 revenue near €7 million versus a €21 million target.