Aconnic AG Initiates Restructuring in Switzerland

aconnic AG, based in Munich, has announced the initiation of restructuring proceedings in Switzerland by filing for insolvency for its two legal entities. This move seeks to realign the company's financial and operational structures to adapt to current market conditions within the telecommunications industry.

The restructuring proceedings will not affect the company's ongoing business operations in supplying systems and services for gigabit networks. The Swiss subsidiaries mainly focus on research and development activities. Collaboration with insolvency administrators and stakeholders aims to sustain business activities and explore strategic options.

aconnic is progressing with a capital increase and fundraising project to enhance its equity and refinance debt, though delays have been noted. CEO Werner Neubauer expressed optimism for the future despite ongoing market challenges. The insolvency process in Switzerland is expected to have limited impact and be rapidly completed.