WKW Automotive has been in crisis for years

WKW Automotive has been in crisis for years. As early as 2022, former CEO Guido Grandi warned of bankruptcy. After a lot of investment, the company's reserves have been exhausted. At the same time, car manufacturers are under great pressure due to delayed orders caused by chip shortages, as well as rising freight, energy and raw material prices. The situation eased slightly after Grandi asked for help, with banks, insurance companies and automotive industry customers willing to make compromises, and the state of North Rhine-Westphalia also provided guarantees. During the restructuring, lawyer Alfred Hagebusch took over WKW's shares as trustee. Although the company said that the negotiations were very difficult, they are working hard to implement the restructuring plan to reverse the loss-making situation. However, the restructuring is behind schedule, and WKW's annual report points out that the challenges of achieving the restructuring goals and extensive measures are very great.