The company, which includes Ralos Projects GmbH and Ralos Solar GmbH, filed for insolvency proceedings on February 29, 2012, at the district court in Germanys Darmstadt.
On its website, it explained, "In spite of successfully implemented operative reorganization measures a solution could unfortunately not be realized for the existing financial situation. This also against the background of the expected changes within the legal conditions in Germany and the expected implications to the sales strategy."
It continued, "The Management Board and the Supervisory Board very much regret for our shareholders, employees and suppliers that this consequence could not be avoided although there was a great mutual agreement for the measurements which have to be taken for a successful financial future."
The district court has appointed Michelstädter lawyer, Bastian Messow as provisional liquidator for Ralos New Energies. His colleague, Mark Plathner has been made responsible for Ralos Solar. Both lawyers already have experience in this field, having successfully completed the partial sale of the insolvent Gecko Group to Centrosolar. Meanwhile, Sylvia Rhine has been appointed provisional liquidator of Ralos Projects.
The news follows that of Scheuten Solars insolvency announcement, and Solons rescue by Microsol.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.