Auto parts supplier WKW Automotive files for bankruptcy

The failure of the takeover agreement reached between the shareholders of automotive parts supplier WKW Automotive and American investors has made the company's situation more critical. On Friday, Walter Klein GmbH & Co. KG and WKW Aktiengesellschaft filed for bankruptcy and Joachim Exner was appointed as the interim bankruptcy administrator. Exner has extensive experience in handling bankruptcy cases of automotive parts suppliers and has the trust of manufacturers. His main tasks at WKW are to conduct pre-financing, stabilize the company's business, and seek support from major customers. In addition, he may also actively look for new investors. WKW Automotive has about 3,800 employees worldwide, mainly concentrated in the Velbert and Wuppertal plants in North Rhine-Westphalia. In 2022, the company's sales reached 591 million euros.