Berlin, Germany (July 20, 2018)—Jünger Audio GmbH has entered insolvency proceedings as part of its efforts to reorganize the company.
Founded in Berlin in 1990, Jünger Audio develops and manufactures digital audio dynamics solutions intended for use in Broadcast, MI, Automotive and OEM markets.
While the company began restructuring itself last year, the reorganization is intended to speed up the process. “We are working to make the business model of Jünger Audio more future-oriented,” said managing director Martin Schlockwerder. “In the future, along with our hardware, we also want to focus more on software-based solutions for audio technology in order to account for the major changes in the market.”
According to the company, the necessary internal reorganization efforts are underway, but for financial reasons, could not be completed without declaring insolvency. “Ultimately, we were lacking the liquidity to bring the new concept to fruition,” reports Schlockwerder.
With approximately 30 employees, the company generates around $4.1 million in sales a year. According to court-appointed attorney Stefan Ludwig, who is the provisional insolvency administrator, all of the company’s current orders will be fulfilled as promised and the employees’ jobs are safe through the end of August under the insolvency payment.
In the meantime, Jünger Audio wants to attract an investor that can equip the company with the financial resources needed to support its reorientation. Schlockwerder noted, “With fresh funds, we can present our world-renowned development work in the form of innovative products, offering them as platform-independent software in the relevant future markets.”
Jünger Audio • www.junger-audio.com