Solon is insolvent

"In the past few months, Solon SE had engaged in intensive efforts to carry out a financial restructuring. It held talks with investors, the financing banks and the guarantors. Today, the negotiations on an amicable solution failed. SOLON SE will now use the opportunities for a restructuring within the insolvency proceedings", a press release states. An application for the opening of insolvency proceedings was subsequently filed for the following subsidiaries: Solon Photovoltaik GmbH, Solon Nord GmbH and Solon Investments GmbH.