The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.99 - Manufacture Of Other Special-Purpose Machinery N.E.C.
140 jobs Number of planned job losses
Announcement Date
31 August 2023
Employment effect (start)
1 September 2023
Foreseen end date
1 September 2023
Description
The German photovoltaic thin-film tubes manufacturer Tubesolar has announced the decision to cease its operations in Augsburg on 31 August 2023. The restructuring will result in the dismissal of all 140 employees.
The company had difficulties in increasing production due to unavailability of required PV films in the short and medium term, because of supply chain problems.
During the insolvency process, no agreements were reached with interested parties for a potential acquisition of the company's operations or significant assets.
Tubesolar was established in Augsburg as a startup in 2019 and, throughout the years, has expanded its workforce to 140 employees.
Eurofound (2023), Tubesolar, Closure in Germany, factsheet number 200281, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200281.
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