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devolo refurbishment completed after six months

The financially troubled German manufacturer devolo had in February 2022 sought insolvency proceedings as a result of the Corona pandemic and attempted to work out a restructuring plan in a reorganization. Now they announce that the reorganization was successful. The protective shield procedure in self-administration will be terminated on October 31, 2022.

devolo reorganization successful – insolvency averted

Today, Aachen-based devolo AG announced that the protective shield proceedings in self-administration will be terminated on October 31, 2022. With the approval of the creditors, the insolvency plan drawn up by administrator Rüdiger Weiß comes to an end after only six months.

The approval of the competent district court has also already been obtained. As of 01 November, the Habers family will take over the company shares of devolo AG with its own companies. “devolo AG emerges from the restructuring process as a fundamentally restructured company”, says Rüdiger Weiß. “This means that devolo AG once again has a very good starting position for the future.”

Heiko Harbers, CEO of devolo AG: “The clear message is: devolo is on course! With our investment, devolo has an excellent strategic perspective – both nationally and internationally.” In the coming years, the company intends to continue to grow, investing in new products, technologies and brands.

Focus still on home networks

However, the company plans to continue its focus on home networking technology, having launched two new Wi-Fi 6 repeaters in mid-September. “Our core business as well as the operating business are healthy and devolo is back on a sustainable financial footing. In addition, the medium- to long-term market prospects are positive”, explains Heiko Harbers, CEO of devolo AG.

The upcoming products are to be accompanied thereby even by international marketing campaigns, which are to increase also the admittingness and the image of the mark. With its products that transform existing power lines into data cables, devolo is internationally regarded as one of the pioneers of home networking.

According to the manufacturer, it has already delivered over 45 million products. At the end of 2021, devolo introduced the world’s first adapter that combines the currently fastest powerline technology with the latest WLAN standard WiFi 6.

After a successful first Corona year, the forecast for devolo actually looked good. But retail problems and a lack of components from production facilities in the Far East ultimately brought the manufacturer from Aachen to its knees.

Simon Lüthje

I am co-founder of this blog and am very interested in everything that has to do with technology, but I also like to play games. I was born in Hamburg, but now I live in Bad Segeberg.

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The financially troubled German manufacturer devolo had in February 2022 sought insolvency proceedings as a result of the Corona pandemic and attempted to work out a restructuring plan in a reorganization. Now they announce that the reorganization was successful. The protective shield procedure in self-administration will be terminated on October 31, 2022. devolo reorganization successful … (Weiterlesen...)

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