Endor AG filed for insolvency this week after negotiations failed with a potential buyer. Fanatec, the company that makes racing video game peripherals like wheels, pedals, and shifters for dedicated cockpits and other sim racing setups, could be in trouble. Its parent company, Endor AG, filed for insolvency on Tuesday in a German court after negotiations failed with Corsair, a strategic investor that had announced plans to buy the beleaguered company just a few months ago. Endor AG has too much debt— €70 million ($75.7 million) in bank debt and €95 million ($102.8 million) in total liabilities.
With annual sales of around €100 million ($108.2 million), Endor, the German electronics company, decided it was best to file for insolvency. The firm had been attempting to restructure itself under German bankruptcy law, but that has failed. According to the company, the former CEO who is also the majority shareholder, convened “an extraordinary general meeting in order to prevent a reorganization under the StaRUG [German Company Stabilization and Restructuring Act] without presenting a viable alternative scenario.”
While this was happening, negotiations between the majority shareholder and all shareholders on a financial reorganization fell through due to “unrealistic demands.” Corsair then decided it could not finalize its plan to purchase Endor because “the ongoing disruptions made a reorganization under the StaRUG impossible.” Therefore, Endor initiated insolvency proceedings to protect and secure its Landshut site and jobs.
Its management board, which blames poor decision-making for its troubled financial state, is hopeful that Endor will find a buyer. The filing does not affect Endor AG’s foreign companies. “As part of the insolvency proceedings, we will continue the restructuring and work at full speed to reorganize the company. We are confident that we will emerge stronger from this situation and return to a sustainable, profitable growth path,” said Endor AG CEO Andres Ruff. Business operations will continue during the proceedings, including sales, warranty repair services, and software and driver updates.
Started my career in Automotive Journalism in 2015. Even though I'm a pharmacist, hanging around cars all the time has created a passion for the automotive industry since day 1.
Spectre Divide introduces the innovative Duality mechanic, allowing players to control two bodies simultaneously. This unique feature adds an extra layer of strategy, as each body can be equipped with different weapons and abilities. The complexity of managing both bodies during a match is what sets Spectre Divide apart from other tactical shooters, offering players a fresh and engaging experience.
In 2025, Xbox is set to bring back a collection of iconic fighting games with the release of MARVEL vs. CAPCOM® Fighting Collection: Arcade Classics and Capcom Fighting Collection™ 2. These two collections will offer players the chance to relive 15 classic fighting games, packed with new features and updates to enhance the gaming experience. This is a golden opportunity for fighting game enthusiasts to enjoy their favorite titles with a modern twist.
Fans of Japanese cars and racing are in for an exceptional experience that blends driving passion with Nissan's legendary brand. The recent licensing agreement between the JDM game and Nissan promises players the opportunity to explore the world of cars like never before. With iconic Nissan models set to appear in the game, players will get a taste of the performance and excitement that these vehicles are known for.
SHARE
