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Industry News from INSOL Europe
23 October 2025
As reported by Reuters, Swiss private bank Julius Baer, one of the largest and oldest in Switzerland, is facing significant credit losses from its exposure to the insolvent German property firm, Degag Group. The bank has reportedly filed claims amounting to €48 million, a figure that surpasses its entire profit in Germany in 2023.
Julius Baer, believed to be Degag's most important bank lender, granted mortgage loans in the higher double-digit Swiss franc million range. This situation is the latest setback following the bank's substantial $586 million Swiss franc loss related to the collapse of Signa property group last year. The bank has already announced a CHF 130 million increase in loan loss allowances.
Julius Baer, believed to be Degag's most important bank lender, granted mortgage loans in the higher double-digit Swiss franc million range. This situation is the latest setback following the bank's substantial $586 million Swiss franc loss related to the collapse of Signa property group last year. The bank has already announced a CHF 130 million increase in loan loss allowances.
New CEO Stefan Bollinger has pledged to reduce Julius Baer's risk profile by refocusing on wealth management. The Degag Group's insolvency has exposed its massive debt, estimated up to €1.1 billion, with prosecutors investigating former executives.
18 October 2025
Swedish carrier BRA, Braathens Regional Airlines and its subsidiary Braathens Regional Airways have begun a court-approved financial restructuring process, similar to US Chapter 11, to secure the future of their ATR turboprop operations. The move follows the bankruptcy of its Airbus-operating units just a week earlier on 30 September.The restructuring aims to cut costs, renegotiate contracts, and support BRA’s transition to operating solely as an ACMI (Aircraft, Crew, Maintenance, Insurance) provider. The airline confirmed that operations for SAS Scandinavian Airlines and Austrian Airlines will continue unaffected.
Whilst job redundancies are expected, no decisions have been finalized. BRA also stated that there are currently no plans to scale down its fleet of 17 ATR72-600s.
Further details on the restructuring plan will be announced in the coming weeks as BRA focuses on strengthening its position in the turboprop ACMI market.
More at ch-aviation.com
26 September 2025
The global healthcare company headquartered in Denmark and makers of Ozempic and Wegovy, is undertaking a major shake-up. New CEO Maziar Mike Doustdar announced in September that the company will cut around 9,000 jobs worldwide (over 11% of its workforce) - about 5,000 of these in Denmark - by 2026. The restructuring is designed to streamline operations, speed up decision-making, and sharpen focus on its core diabetes and obesity businesses, while still investing in rare diseases.
The move carries a one-time cost of 8 billion Danish kroner (~$1.3B) but is expected to deliver the same amount in annual savings by late 2026. Novo says the changes are needed after years of rapid growth, increased complexity in the market, expenses and rising competition.
The move carries a one-time cost of 8 billion Danish kroner (~$1.3B) but is expected to deliver the same amount in annual savings by late 2026. Novo says the changes are needed after years of rapid growth, increased complexity in the market, expenses and rising competition.
Doustdar called the cuts difficult but necessary to keep Novo competitive and ensure long-term growth.
More on this story at Fierce Pharma
More on this story at Fierce Pharma
20 September 2025
On 13 August 2025, Claire’s UK and Ireland operations entered administration, placing over 2,000 jobs and around 300 stores at risk - specifically affecting 306 stores across those regions. Following the collapse of Claire's US, for the second time in seven years, Claire's France was put into receivership earlier in August and stores in Germany, Austria and Italy are also closing. In the UK the chain is continuing to trade whilst exploring strategic options.The popular high street brand, known for its accessories, follows its US parent’s recent bankruptcy filing, underscoring a precarious financial position. Insolvency practitioners have been appointed and plan to keep all 306 UK and Ireland stores open for now while they explore strategic options, including a possible sale of the business as a going concern. The administration has halted Claire’s online orders. The collapse reflects deep structural challenges amid rising competition, shifting consumer habits, and debt pressures.
Read more here
07 September 2025
Quantum, a company founded by private investors with ties to Industry 4.0, has acquired all assets of BCN3D following its bankruptcy filing in May. The acquisition, which includes BCN3D's headquarters and production facility, was formally approved through legal proceedings.Quantum aims to ensure the long-term viability and sustainable growth of BCN3D. The new company has stated that all operations remain fully functional, and the entire BCN3D team is staying on. This move allows BCN3D to continue developing its 3D printing technology and expand its offerings for the light industrial market, ensuring its product roadmap evolves under a new, agile structure.
Full story here