Keep up to date with Insol Europe news on our LinkedIn profile page...

 

Frasers Group Acquisition of Harvey Nichols

Frasers Group plc has acquired luxury retailer Harvey Nichols from administrators FTI Consulting LLP. The deal includes over 800 premium brands, 1,000+ employees, online operations, existing inventory,…

RDM recapitalisation enters court approval phase

Financially troubled Italian recycled carton board producer Reno De Medici (RDM) has entered the legal implementation phase of its planned recapitalisation. In early August 2026, the company signed a…

Historic British bicycle brand Raleigh could enter administration

Historic British bicycle brand Raleigh could enter administration after Dutch parent Accell Group began insolvency proceedings. Accell received a ‘suspension of payments’ after concluding it could…

UK video game retailer GAME enters administration in April 2026

UK video game retailer GAME entered administration in April 2026, owing almost £16m. The debt comprised £3.35m owed to secured creditors and £12m to unsecured creditors. Administrators linked the company’s…

News

Weak electric car sales force car dealership into insolvency
Preckel Automobile, a German car dealership group, has filed for insolvency as weak electric vehicle sales have seriously undermined its business, leaving around 500 jobs at risk. The company is closing three branches in Düsseldorf, Solingen, and Heiligenhaus as part of cost-cutting measures, though other locations will continue operating for the time being. 

The insolvency proceedings were initiated at the Krefeld District Court under a preliminary self-administration process. A major factor in the downturn is that demand for electric cars has fallen well below expectations due to high purchase costs, uncertain resale values and insufficient charging infrastructure, while manufacturers focus on high-priced models that struggle to attract buyers.

The case highlights a growing crisis within the European automotive retail sector as traditional dealers struggle to balance the management of stagnant EV inventory and rising operational costs. 

Reported here at Blackout News
  BENCHMARKS  
Loading Time: Base Classes  0.0007
Controller Execution Time ( News / News Details )  0.0089
Total Execution Time  0.0098
  GET DATA  
No GET data exists
  MEMORY USAGE  
793,896 bytes
  POST DATA  
No POST data exists
  URI STRING  
news/details/weak-electric-car-sales-force-car-dealership-into-insolvency
  CLASS/METHOD  
news/news_details
  DATABASE:  insoleur_main   QUERIES: 46  (Show)
  HTTP HEADERS  (Show)
  SESSION DATA  (Show)
  CONFIG VARIABLES  (Show)