Restructuring events
European Restructuring Monitor (ERM)
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.
The German chain of car dealerships Preckel Automobile has filed for insolvency. The three sites Düsseldorf, Solingen, and Heilighausen (North Rhine-Westphalia) were closed as of 30 November 2025, resulting in the immediate loss of 310 jobs.
The company attributes the insolvency to years of stagnation in Germany’s new-car market and says it will now evaluate restructuring options to secure its business in the long term.
Operations will continue at the remaining branches in Krefeld, Mönchengladbach and Geldern (North Rhine-Westphalia) with 190 employees. For now, their wages are covered for three months by statutory insolvency pay. It is currently unclear whether they will also loose their position at the end of the three months. Ultimately, the company is seeking new investors to finance the restructuring of the business to reestablish long-term operational sustainability.
Eurofound (2025), Preckel Automobile, Bankruptcy in Germany, factsheet number 203822, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203822.