Fanatec, a company specializing in peripherals for racing games, has just filed for bankruptcy in Germany. By filing for bankruptcy, the company claims that its assets are less than its debts and therefore it will not be able to keep its doors open. The future of the company now lies in the hands of Corsair.
Corsair decided to buy Fanatec in May and will have to deal with the insolvency problems of the racing wheel and peripheral manufacturer. Insolvency occurs when a company does not have enough assets to meet its obligations; in other words, the debts are so large that it will not be able to pay them.
According to Fanatec, Three factors contributed to the company’s current status: exaggerated investment in the expansion of the new headquarters, poor management of the company’s shares and millions of euros thrown away on systems with no financial return.
Fanatec declares insolvency and will depend on Corsair
Fanatec is a renowned peripherals company and has official steering wheels for games such as Gran Turismo. Likewise, despite the insolvency filing, business operations and product sales will not change over the next few months.
The request for insolvency is a way for Fanatec to get a new investor and avoid bankruptcy. Since Corsair is still planning to fully acquire Fanatec, the company can afford to pay off its debt during the acquisition process. As one of the most reputable companies in the industry, it should have a number of investors looking into its situation.
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On the other hand, Fanatec’s current financial situation could drive investors away from Corsair, putting an end to the merger between the two companies. For now, the future of the racing wheel and gaming peripheral manufacturer is uncertain, but the company’s owners are confident that they will find a new investor.
By all indications, Corsair should be the company that saves Fanatec from insolvency. For now, there is no information about the size of the company’s debts, a key factor in knowing whether the company will be able to escape its debts and resolve the insolvency problem.
Fonte: Eurogamer
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Source: https://www.adrenaline.com.br/perifericos/fanatec-entra-com-processo-de-insolvencia-na-alemanha/
