The parent company of Fanatec brand, Endor AG, has filed for insolvency. This is part of the foreseeable proceedings. You can read the original statement in Fanatec forums clicking by here.
Dear Sim Racers,
Today, we find ourselves at a crucial juncture in our journey, and we want to share some important news with you. Endor AG has filed for insolvency with the Landshut Local Court due to financial difficulties that have become insurmountable despite our best efforts. Endor AG’s foreign companies are not affected by the application for insolvency. The full press release can be read here: https://endor.ag/2024/07/30/endor-ag-files-for-insolvency-2/?lang=en
Firstly, we want to reassure you that our operations will continue as usual. Sales and customer support will remain uninterrupted, and our commitment to delivering top-quality products will not waver. The restructuring process is designed to streamline our operations and set the stage for a stronger, more resilient future.
The insolvency proceedings are a necessary step to address our financial issues and reorganise our business. Our outlook for the future remains bright. The strength of our outstanding team with a passion for sim racing, coupled with the loyalty of our customers and partners, has been crucial to our success. We believe that with their support and the lessons learned from this experience, we will overcome these challenges and continue to thrive.
We also remain optimistic about securing a suitable investor during the insolvency process. Additionally, we believe that CORSAIR remains interested in acquiring Endor AG.
Andres Ruff, CEO of Endor, said: ‘We would like to thank our customers, employees and business partners for their trust and support over the past months. As part of the insolvency proceedings, we will continue the restructuring and work at full speed to reorganise the company. We are confident that we will emerge stronger from this situation and return to a sustainable, profitable growth path.”
Sincerely,
The Endor AG Team
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