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 decline to changing consumer behaviour, particularly the shift from physical games to digital downloads, alongside Brexit-related uncertainty and stronger competition. 

GAME also faced pressure from the absence of a major console launch since 2020, with global chip shortages delaying new hardware. Acquired by Frasers Group in 2019, the chain suffered a particularly difficult final quarter in 2025. Its three remaining standalone UK stores closed as it entered administration, leaving the brand operating through concessions in Sports Direct and House of Fraser, plus its website. 

Once boasting more than 600 UK stores, GAME now has concessions at over 200 locations. The retailer’s website is currently operating normally.

More on this at Nintendo Life

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German wind and solar project developer Sowitec has filed for insolvency after expected customer payments from South America failed to arrive on schedule. The proceedings affect the group’s holding company and three wholly owned subsidiaries responsible for domestic and international projects and related services. Germany’s Tübingen Local Court has appointed GÖRG partner Dr Holger Leichtle as provisional insolvency administrator. 

Sowitec, which has developed renewable-energy projects for more than 30 years, currently operates in 13 countries, although its international activities have recently been reduced. Business operations will continue without restriction while employees’ wages are protected through Germany’s insolvency-payment scheme. 

The administrator will now review Sowitec’s finances and project portfolio, assess whether the business can be restructured and explore potential investor interest. The filing highlights how delayed payments and difficult market conditions can place even established renewable-energy developers under severe financial pressure.

Read the full story at Renewables Now

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Spanish engineering group Duro Felguera has secured court approval for its restructuring plan, marking a significant milestone in its efforts to restore financial stability. The Commercial Court in Gijón dismissed all objections to the plan, allowing its effects to extend to all affected creditors, including those who opposed it, in accordance with Spanish restructuring law. The plan had already received the backing of the company's majority shareholders and creditors, as well as overwhelming shareholder approval at an Extraordinary General Meeting in November 2025. 

The restructuring comes after another difficult financial year, with net losses increasing to €89.3 million and revenue falling by almost 44% in 2025. While the company reduced its negative EBITDA, it continued to face the impact of provisions linked to major international projects in Romania, Morocco and Dubai. 

By restructuring its €980 million balance sheet, the company successfully avoids insolvency, protects local employment, and establishes a stabilized foundation for long-term growth.

More on this story at The Corner

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German furniture manufacturer Himolla Polstermöbel GmbH has entered ‘protective shield proceedings’, a court-supervised restructuring process designed to allow the company to reorganise while continuing operations. The application was filed with the court in Landshut on 26 June 2026.

The restructuring follows challenging market conditions, including weak consumer demand and falling sales. Tillmann Peeters of Falkensteg has been appointed restructuring manager, working alongside legal advisers and a provisional administrator to develop a restructuring plan aimed at stabilising the business and securing its long-term future.

Despite the proceedings, Himolla has confirmed that production at its international sites in Poland, Romania, Slovakia and Hungary will continue unaffected, and all customer orders will be fulfilled as planned, although the potential impact on jobs has yet to be determined.

Read more at Big Furniture Group

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Swedish appliance manufacturer Electrolux has announced it will close its factory in Jászberény, Hungary, by the end of 2026, with around 600 jobs affected. The site produces built-in and freestanding refrigeration products, and the decision forms part of the company's wider restructuring efforts to reduce costs. 

Electrolux said the move reflects a challenging competitive environment marked by stagnant market demand, sustained price pressure and rising constraints on cost competitiveness. The announcement highlights the continued pressure on European manufacturers to streamline operations and adapt production footprints in response to weaker demand and intensifying market competition. 

As a financial result, Electrolux will record a SEK 0.6 billion ($65.6 million) restructuring charge in the second quarter, of which SEK 0.3 billion is cash-related.

More on this story at Global Banking & Finance

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