Overview
- Sonnen filed for insolvency on Thursday, October 22, and has applied for Insolvenz in Eigenverwaltung, a German process that keeps company management in place under court supervision to try to restructure operations.
- About 400 employees at the Wildpoldsried headquarters were informed the morning the filing was made, and media reports say several subsidiaries will be wound down or sent into insolvency.
- Shell sold Sonnen to the investor Tiven roughly two months before the filing, and Tiven brought in advisers and changed senior management as it reviewed the business.
- The company faces severe financial decline with revenue plunging from about €263 million in 2023 to about €78 million in 2024 and a reported 2024 loss near €107 million, driven in part by high upfront growth costs and strong low-cost competition.
- Sonnen says service for its roughly 150,000 installed customers will continue even as only one production site is expected to be retained, a shift that could cut jobs locally and reshape supply options in the European home‑battery market.