Sonnen files for insolvency

This summer, after years of searching for a buyer, oil major Shell sold German battery storage manufacturer Sonnen to family office Tiven. The company, based in Wildpoldsried in Germany's Allgäu region, has now filed for insolvency, according to German business daily Handelsblatt. The newspaper reported that Sonnen GmbH's approximately 400 remaining employees were informed of the insolvency filing on Thursday morning. Although no official notice has yet been published in the insolvency register, the company confirmed the proceedings to Handelsblatt. According to the report, Sonnen will continue ...

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