VERIANOS SE Files for Insolvency Proceedings

Cologne, July 25, 2024 - VERIANOS SE has announced the filing of an application for the initiation of insolvency proceedings. The Board of Directors made this decision due to the depreciation of specific projects and investments within its group companies. Additionally, the delay in anticipated project revenues has severely impacted the company's short to medium-term financial and liquidity strategies.

Attempts to secure funding through discussions with potential investors were unsuccessful, further exacerbating the financial strain on the company. Consequently, VERIANOS SE has taken steps to seek legal relief through insolvency at the Cologne local court.